KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
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To: Board of Regents Audit CommitteeDate: January 23, 2009
From: Dr. Ralph Kimbrough, Internal Auditor
Subject: Discussion by Audit Committee members regarding their opinions of risk affecting KSU in order to fulfill the new Risk Assessment Policy
Reason for Consideration: Discussion and documentation of the opinions of the Audit Committee.Enclosures: Yes
Background:
Dr. Sias and Dr. Kimbrough jointly developed a new policy on risk assessment. This policy requires that the members of the audit committee discuss the several risks that might affect KSU. The members should bring their opinions and use their experiences and current knowledge about higher education to enhance their discussions. These discussions will become an official part of the Audit Committee's records.
Recommendation:
That the Audit Committee should state their opinions and add their comments as the areas of highest risk for KSU. A copy of the current year's audit plan follows:
Initiator:Dr. Ralph Kimbrough, Internal Auditor
Board Action Date:January 23, 2009
Effective Date:January 23, 2009
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