Oklahoma A&M Board of Regents

 

Operations of the Office of Internal Audit

1.09

The Office of Internal Audit provides independent, objective assurance and consulting services designed to add value and improve the operations of the institutions governed by the Board and their constituent agencies.

There shall be a Chief Audit Executive (CAE) who shall report functionally to the Board and administratively to the CEO. The CAE is responsible for the management of the Office of Internal Audit, supervision of its audit and support staff and the selection and coordination of all outside assurance and consulting services required of the Office of Internal Audit. The annual budget for the Office of Internal Audit shall be approved by the Board and administered by the CEO. The CAE shall be free at any time to consult with Board members, the CEO, and the Presidents, administrators and employees of the institutions.

The Office of Internal Audit shall provide risk-based audit services for the Board and its institutions. All internal and external audit-related services for the institutions shall be coordinated and facilitated by the Office of Internal Audit. To maintain independence and objectivity, the Office of Internal Audit shall be solely responsible for internal audit matters, including audit selection, scope, procedures, frequency, timing and report content.

The Office of Internal Audit shall have no direct operational responsibility or authority over any of the activities it reviews. Assurance and consulting processes conducted by the Office of Internal Audit do not substitute for or relieve other persons of their management responsibilities.

All institutional employees shall fully cooperate with the Office of Internal Audit. In accordance with its responsibilities, the Office of Internal Audit shall have full, free and unrestricted access to all records, physical properties and personnel under the jurisdiction of the Board. Documents and information given to the Office of Internal Audit shall be handled in a prudent, professional manner.

Institutional employees contacted by external entities regarding an audit, review or investigation shall notify and coordinate with the Office of Internal Audit as soon as possible. This includes ensuring advance notice of any entrance or exit meetings is provided to the Office of Internal Audit. Final results, including written reports, from these audits, reviews or investigations shall be forwarded to the Office of Internal Audit in a timely manner.

Additional information regarding the Office of Internal Audit and its responsibilities can be found in the references below.

References:

  • 70 O.S. §3909
  • 74 O.S. §228 and §229
  • Charter for the Audit, Risk Management and Compliance Review Committee
  • Charter for the Office of Internal Audit

    Approved Date: 
    June 20, 1997
    Revised Date: 
    March 1, 2013
    Amended Date: 
    June 20, 1997
    January 20, 2012
    April 24, 2015
    June 22, 2018