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UT Tyler Audit Committee

Members

• Dr. Rod Mabry, President
• Dr. Peter Fos, Provost and Vice President of Academic Affairs
• Mr. Gregg Lassen, Vice President of Business Affairs
• Dr. Howard Patterson, Vice President of Student Affairs
• Dr. Sherri Whatley, Associate Vice President and Chief Information Officer
• Ms. Mary Barr, Director of Institutional Compliance
• Mr. Gary Penkilo, CPA, Henry and Peters, PC
• Mr. Chuck Lyon, Audit Liason, UT System

Institutional Audit Committee Charter

Authority

Business Procedures Memorandum 18-02-04, Internal Audit Activities, authorizes the establishment of the Institutional Audit Committee..  Appendix A, System-wide Internal Audit Charter, states: “Each institution will organize and maintain an institutional audit committee.”

Role

The Institutional Audit Committee is an essential component of the risk management and internal control infrastructure of each institution and of The University of Texas System. Primary responsibilities are to assist the UT Tyler’s President in the:

• Oversight of the UT Tyler’s financial statement preparation process;
• Oversight and direction of the institution’s internal auditing function;
• 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 Director of System Audits, to the Audit, Compliance, and Management Review Committee of the Board of Regents (ACMR).

Membership

The UT Tyler President appoints the members of the Institutional Audit Committee.   Membership should include:

• The President, Chief Business Officer, Chief Academic Officer, and other key members of senior management of the institution;
• At least one member from outside the institution (chosen by the President) is strongly encouraged; and
• The Chairman is appointed by the President.  The President may be the Chairman.

The UT Tyler Chief Audit Executive, the representative of the appropriate UT System Executive Vice-Chancellor, and the representative of the Director of System Audits are non-voting members of the committee who serve as resources to assist the committee in carrying out its responsibilities.

Education

The UT System Controller’s Office and/or the System Audit Office are responsible for providing  UT Tyler’s Institutional Audit Committee members with educational resources related to accounting principles and procedures, business and financial risk management, internal auditing standards and best practices, and other information necessary to discharge their responsibilities.

Meetings

The institutional audit committee should meet periodically as determined by institutional necessity and at the request of the President, and provide for direct communication with the chief audit executive, external public accounting firms hired by the institution, and senior management.  Evidence of the discussions of the committee and the actions taken by the committee should be reflected in recorded minutes of the meetings.  A majority of members constitutes a quorum and attendance should be recorded in the minutes.

Responsibilities

The Institutional Audit Committee’s specific responsibilities in carrying out its oversight and reporting roles are delineated in the Institutional Audit Committee Responsibilities Checklist. The responsibilities checklist will be updated annually by the Institutional Audit Committee to reflect changes in regulatory requirements, authoritative guidance, UT System guidance, and best practices in business and financial risk management. As the compendium of Institutional Audit Committee responsibilities, the most recently updated responsibilities checklist will be considered to be an addendum to this charter. (Checklist)