BACKGROUND: Annually, the Internal Auditor shall submit a one year audit plan to the Board of Regents for review and approval. On June 4, 2020, the Board of Regents approved the 2020-2021 audit plan. On Friday, August 14, 2020, Dr. Elaine Farris, Chairperson, Kentucky State University Board Members, requested that areas of concern that have been brought to board members attention be included in the Audit Plan for 2020-2021.

The Internal Audit Plan includes the proposed plan for auditing departments, agencies and activities for the period. The Internal Auditor may spontaneously initiate and conduct any other audit deemed necessary, or as requested by the President or the Board of Regents. In the selection of audit areas and audit objectives, the determination of audit scope and timing of audit work, the Internal Auditor may consult with external auditors, federal, or state auditors so that the desirable audit coverage is provided and audit effort is properly coordinated.

SUMMARY OF PROGRAMS/ACTIVITIES: This is an update regarding the seven 2020-2021 Internal Audit Plan Activities approved during the September 3rd, 2020 Quarterly Meeting.

Goal 3: Increase the University's Financial Strength and Operational Efficiency.

Goal 5: Obtain Maximum Institutional Effectiveness through the Implementation of a Continuous Quality Improvement Process framed within the seven Baldrige Performance Excellence in Education criteria.

PROGRAM IMPLICATIONS: N/A

FISCAL IMPLICATIONS: N/A

RECOMMENDATION: NO

ATTACHMENTS: YES