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Annual Reports and Audit Plans

 

 

Annual Report

An Internal Audit Annual Report is prepared in accordance with the Texas Internal Auditing Act (TIAA). The TIAA requires certain state agencies and higher education institutions to submit an internal audit annual report each year by November 1st to the Governor, the Legislative Budget Board, the Sunset Advisory Commission, the State Auditor’s Office (SAO), and the entity’s governing board and chief executive.
 
In 2013, House Bill 16 became law and amended Chapter 2102 of the Texas Government Code to require state agencies, including institutions of higher education, to post on the agency’s Internet website the internal audit annual report. A state agency is not required to post information contained in the agency’s internal audit plan or annual report if the information is excepted from public disclosure under Chapter 552 of the Texas Government Code.
 
To view a copy of the current Annual Report, click the Annual Report link below.  Please note that it is in PDF format and you will need to download a copy of the Adobe Reader if you don't already have one.  You may download a free copy now by going to http://www.adobe.com/products/acrobat/readstep.html.
 
 

 

Audit Plan

An Audit Plan is prepared each summer for the following fiscal year. As required by statute, this plan is based upon an assessment of risk, which is performed by the Office of Audits and Analysis in the period preceding plan development.

Typically, the risk assessment process includes interviewing managers to develop a “baseline” of information about activities, objectives, risks, and mitigating controls. This process takes about 30 minutes. In some years, managers will be asked merely to update the information with any changes. This assessment is NOT an audit. Rather, it collects information to enable the Office of Audits and Analysis to determine where it can best spend its resources.

This Risk Assessment, supplemented by information from management and the Board of Regents, is used by the Office of Audits and Analysis to develop the Audit Plan, which is submitted to the Board of Regents for their approval at the August Board meeting.

Changes to the plan, however, are often required to adapt to changing circumstances and unidentified risks.

To view a copy of the Audit Plan, click the Audit Plan link below.  Please note that it is in PDF format and you will need to download a copy of the Adobe Reader if you don't already have one.  You may download a free copy now by going to http://www.adobe.com/products/acrobat/readstep.html.

FY 2015 Audit Plan