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Handbook of Operating Procedures
Chapter 9 - General Provisions
Publication Date: March 17, 2020
Responsible Executive: President


9.27 Guidelines for the Internal Audit Committee


I. POLICY STATEMENT


The University of Texas (UT) System Policy UTS129, Internal Audit Activities authorizes the establishment of an Institutional Internal Audit Committee (Committee). Exhibit A of UTS Policy 129 notes, each institution will organize and maintain an institutional audit committee.


II. RATIONALE


The University of Texas at San Antonio Internal Audit Committee is an essential part of the risk management and internal control infrastructure of the University and The University of Texas System. Its primary responsibilities are to assist and advise the UT System Audit, Compliance, and Risk Management Committee (ACRMC) and the University President in the following matters:

a) Oversight and direction of the internal audit function to ensure alignment of activities with areas of high risk and/or high potential for adding organizational value  

b) Oversight of management activities and processes put in place to manage business risk to the University’s mission(s) and objectives;  

c) Oversight of any external audit firms and review of their results; and  

d) Evaluation of risks identified by management or through audit, advising management and elevating reporting of risk management and audit activities to the UT System (through internal audit or direct processes), including the ACRMC.  


III. SCOPE


This policy applies to all UTSA employees and students.


IV. WEBSITE ADDRESS FOR THIS POLICY


http://www.utsa.edu/hop/chapter9/9.27.html


V. RELATED STATUTES, POLICIES, REQUIREMENTS OR STANDARDS


UTSA or UT System Policies or the Board of Regents' Rules and Regulations

  1. UT System Policy 129 - Internal Audit Activities
  2. UT Board of Regents Rule 20401: Audit and Compliance Programs

Other Policies & Standards

  1. Texas Internal Auditing Act, Government Code Chapter 2102
  2. Institutte of Internal Audiots, International Standards for the Professional Practice of Internal Auditing
  3. Institutional Audit Committee Charter
  4. Internal Audit Activity Charter

VI. CONTACTS


If you have any questions about HOP 9.27 Guidelines for the Internal AUdit Committee, contact the following office:

The Office of the Auditing and Consulting Services:

210-458-4237


VII. DEFINITIONS


Internal Audit - A department, division, team of consultants, or other practitioner(s) that provides independent, objective assurance and consulting services designed to add value and improve an organization’s operations. The internal audit activity helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management and control processes.

Chief Audit Executive - Chief audit executive describes the role of a person in a senior position responsible for effectively managing the internal audit activity in accordance with the internal audit charter and the mandatory elements of the International Professional Practices Framework. The chief audit executive or others reporting to the chief audit executive will have appropriate professional certifications and qualifications. The specific job title and/or responsibilities of the chief audit executive may vary across organizations

Audit, Compliance, and Risk Management Committee (ACRMC) - A standing committee of the UT System Board of Regents that provides oversight and direction of the internal auditing function.


IX. RESPONSIBILITIES


The Committee is functionally responsible to the ACRMC and assists the ACRMC in discharging its oversight duties for the UT System. This is accomplished as the Committee carries out its responsibilities, as defined in the Institutional Audit Committee Charter. The Committee Chair has direct access to the ACRMC Chair; however, most of the reporting and coordination of information is administratively facilitated through the Chief Audit Executive of the UT System. 

  1. Institutional Audit Committee
    1. Responsibilities of the institutional audit committee are outlined in its charter.
  2. The Office of Auditing and Consulting Services
    1. Responsibilities of the internal audit acutivity are outlined in its charter.

X. PROCEDURES


Meetings:

The Internal Audit Committee meets quarterly, with the authority to convene additional meetings as necessary. The meetings should provide for direct communication between the Committee Members and the Chief Audit Executive.  Evidence of actions taken by the Audit Committee should be reflected in recorded minutes. A majority of members constitutes a quorum and attendance should be recorded in the minutes.   

Membership and Terms:

Membership in the Institutional Internal Audit Committee is made up of members who are external to the University and who are appointed by the President. The Audit Committee may include and the President of the University. At least three Audit Committee members must be external to the University and the Committee Chair must be one of the external members. The external members will serve three-year terms with the eligibility to be appointed to one additional three-year term. The Committee Chair will serve for one year with the ability to be reappointed annually for the length of his or her term. The Committee Chair will be nominated by the President of the University and approved by the Chair of the ACRMC. At the discretion of the Committee Chair, certain members of Executive Management will be invited guests.


X. SPECIAL INSTRUCTIONS FOR INITIAL IMPLEMENTATION


None


XI. FORMS AND TOOLS/ONLINE PROCESSES

None


XII. APPENDIX


None