[Date change – posted 9/26/18 (replaces 4/30/16 edition)]
Operating Policy and Procedure
OP 04.02: Audits and Reviews by External Auditors
DATE: September 26, 2018
PURPOSE: This Operating Policy/Procedure (OP) sets forth the procedures for communication among university departments and the Office of Audit Services related to audits and reviews by external auditors.
REVIEW: This OP will be reviewed in March of even-numbered years by the Chief Audit Executive of the Texas Tech University System (TTUS) with substantive revisions forwarded to the President.
The university periodically is the subject of audits or reviews performed by the State Auditor's Office, the state Comptroller of Public Accounts, the Legislative Budget Board, other state or federal agencies, or external auditors engaged by those agencies. Such engagements not initiated within TTUS will be referred to as involuntary engagements. The university also acts to engage external auditors for audits or reviews from time to time. This OP establishes policy for communication among university departments and the Office of Audit Services (OAS) related to involuntary engagements as well as those initiated by university personnel.
1. Coordination and Communication for Involuntary Audits or Reviews
a. When an administrator is notified of a planned or expected audit or review by a state or federal agency, regulatory body, or other external auditor, the TTUS Chief Audit Executive should be notified.
b. The TTUS Chief Audit Executive, along with the appropriate level of administration, will determine the level of involvement of the Office of Audit Services. At a minimum, a member of OAS may attend the entrance and/or exit conferences for the engagement. The OAS may also be involved in coordination, gathering data, assisting with fieldwork, and/or reviewing management responses.
2. Coordination and Communication for Audits or Reviews Initiated by TTUS
a. V.T.C.A. Government Code §321.020, Coordination of Certain Audits, requires that the state auditor give prior approval for the engagement of any external auditor. The TTUS chief audit executive will assist university administrators with obtaining such approval.
b. To initiate the approval process, the administrator should provide the TTUS Chief Audit Executive with details of the audit work needed and/or the request for qualifications (RFQ) or request for proposals (RFP) for the engagement. The TTUS chief audit executive will then request approval for the engagement from the State Auditor's Office.
c. When the state auditor has responded to the request, the TTUS Chief Audit Executive will communicate the results of the request to the administrator.
d. The TTUS Chief Audit Executive will lead the selection process to engage external auditors.
3. When a final written report is issued to the university as the result of any type of engagement described above, a copy should be provided to the Office of Audit Services. The TTUS Chief Audit Executive will ensure appropriate communication of the results of the engagements to the president, the chancellor, and the Audit Committee of the Board of Regents.
04 Audit Services
30 Academic and Student Affairs – General
32 Academic Policies – Faculty
34 Academic Policies – Students
36 Academic Programs
40 Equal Opportunity and Affirmative Action
48 Communication Services
52 Information Technology
60 Environmental Health and Safety
61 Facilities Management
62 Financial and Accounting
63 General Services
64 Graduate Programs (Faculty and Students)
65 Research Accounting
67 Mail Services
68 Communications and Marketing
69 Payroll and Tax Services
70 Human Resources
72 Purchasing, Contracting, and Payables
77 Student Services and Registrar
78 Traffic and Parking