Agenda Item Background
| To: | Board of Regents
Audit Committee | Date:
October 20, 2016 |
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| From: | Ingram Quick, Internal Auditor | |
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| Subject: | Amended Internal Audit Charter | |
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| Reason for Consideration: | Approval | Enclosures: Yes |
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Professional auditing standards require the purpose, authority, and responsibility of internal audit activity should be formally defined in a charter and approved by the Board of Regents. The Charter originally submitted to the Board of Regents (October 2016 BOR Meeting) has been amended to note internal audit activity's functional reporting relationship to the Board. Please see attached.
The Board of Regents approve the Internal Audit Charter with amendments.
| Initiator: | Ingram Quick, Internal Auditor |
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| Board Action Date: | October 20, 2016 |
| Effective Date: | October 20, 2016 |
Approval
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