Oversight and Authority

INTERNAL OVERSIGHT

The Institutional Audit Committee is an essential component of the risk management and internal control infrastructure of UT Arlington. Its primary responsibilities are to assist the President in the:

• Oversight and direction of the institution’s internal auditing function,
• Oversight of the institution’s processes to manage business and financial risks,
• Oversight of the institution’s financial statement preparation process,
• Oversight of any external public accounting firms hired by the institution, and
• Reporting of risk management and audit activity to the appropriate UT System executive vice-chancellor and, through the UT System Audit Office, to the Audit, Compliance and Management Review Committee (ACMRC) of the Board of Regents.

UT SYSTEM OVERSIGHT

The CAE of the Office of Internal Audits has an indirect reporting relationship to the UT System chief audit executive who has responsibility for oversight of the internal auditing activity for the UT System and has the reporting responsibility for all institutions to the Audit, Compliance and Management Review Committee (ACMRC) of the Board of Regents.

EXTERNAL OVERSIGHT

The Texas Internal Audit Act (Texas Government Code, Chapter 2102) requires certain state agencies and higher education institutions to submit an annual report of audit activities and provide copies of audit reports to the Governor’s Office, the Legislative Budget Board, the Sunset Advisory Commission and the State Auditor’s Office.