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Office of the President
TSUS Office of Internal Audit

Annual Report and Audit Plan

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.
 
 

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 Internal Audit 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 Internal Audit 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 Internal Audit 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.

View the Audit and Compliance Plan for Fiscal Year 2025