Audits and Analysis UPPS No. 04.03.01
Issue No. 5
Effective Date: 07/27/2012
Review:
April 1 E5Y
01. POLICY STATEMENTS
01.01 Internal
auditing is an independent objective, assurance and consulting activity
designed to add value to an organization; improve its operations; and otherwise
assist accomplishment of its objectives by bringing a systematic, disciplined
approach to evaluate and improve the effectiveness of control, governance, and
risk management processes.
01.02 The Board of
Regents of The Texas State University System (System) is primarily responsible
for providing governance, guidance and oversight of management within the
System. Texas State University management (management) is responsible for
establishing and maintaining adequate internal controls to ensure achievement
of System goals and objectives. The internal audit function is designed to
provide positive support to the System Board of Regents, and to System and component
administrations in the effective discharge of their respective responsibilities.
01.03 The purpose,
authority and responsibility of Audits and Analysis are defined in System Rules
and Regulations, Chapter 3, Paragraph 7, which has been approved by the System Board
of Regents and adopted by management. See TSUS Rules and Regulations at http://www.tsus.edu/about/resources.html.
02. AUDITING
PROCEDURES
02.01 The component director
of Audits and Analysis (component director) will inform the divisional vice
president, dean or director, and the account manager prior to conducting a
routine internal audit.
02.02 Audits and Analysis
will discuss audit concerns, recommendations and conclusions with the
appropriate levels of management before issuing final written reports. These
discussions help ensure that there have been no misunderstandings or
misinterpretations of fact by providing management the opportunity to clarify
specific items and to express views of the audit issues, recommendations and
conclusions. A draft of the report will be provided to the system director of
Audits and Analysis (system director) for review. Upon approval of the draft, a
copy of the report will be provided to management. Management responses are due
within two weeks as required by the System's Rules and Regulations. At that
time, management will present its response to the audit issues in final form,
including an action plan that has been approved by the divisional vice
president. If responses are not received in a timely manner, the status of the
audits will be reported quarterly to the System Board of Regents. Upon a
showing of extenuating circumstances by management and the component director’s
recommendation, the system director may extend the time for response.
Management or administrators may request an exit conference at any time during
this discussion process prior to release of the final audit report. The system
director also reviews report drafts immediately prior to release.
02.03 If Audits and Analysis
and management disagree about the audit results or the appropriateness of the
response, both positions may be included in the audit report. The component director
will issue the audit report to the president and management upon approval of
the system director.
02.04 The president,
vice presidents, or the special assistant to the president will ensure that
there is adequate consideration of the audit report and appropriate action on
audit recommendations.
03. REVIEWERS
OF THIS UPPS
03.01 Reviewers of
this UPPS include the following:
Position Date
Component Director of Audits and April 1 E5Y
Analysis
System Director of Audits and Analysis April 1 E5Y
04. CERTIFICATION
STATEMENT
This UPPS has
been approved by the following individuals in their official capacities and
represents Texas State policy and procedure from the date of this document
until superseded.
Component Director,
Audits and Analysis; senior reviewer of this UPPS
President