[Replaces previously published editions of 04.01 and 04.02]
Operating Policy and Procedure
OP 04.01: Office of Audit Services Operations
DATE: July 10, 2020
PURPOSE: The purpose of this Operating Policy/Procedure (OP) is to set forth certain procedures related to audit operations and communication among Texas Tech University System (TTUS), its institutions, and the Office of Audit Services pertaining to internal and external engagements including audits, reviews, management advisory engagements, and investigations.
REVIEW: This OP will be reviewed in December of every fifth year by the Chief Audit Executive of the Texas Tech University System with substantive revisions forwarded to the President. This OP will be reviewed again in 2024.
1. The Board of Regents has established the Office of Audit Services (OAS) in accordance with the Texas Internal Auditing Act. The OAS serves all divisions, campuses, and locations of TTUS and its institutions (collectively, the System).
2. In order to provide organizational independence, the Chief Audit Executive (CAE), who coordinates and supervises all OAS offices and locations, reports directly to the board, functionally through the board's audit committee, and administratively to the Chancellor.
3. The mission of the OAS is to enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight.
4. To accomplish their work, the CAE and staff members of OAS are authorized to have full, free, and unrestricted access to all functions, manual and electronic records (including student, personnel, and medical records), property, and personnel relevant to any audit or engagement. Auditors will be prudent in the use and protection of information acquired during the course of an engagement.
5. Regents' Rule 07.02, Audits, serves as the OAS charter, defining its objectives, standards of practice, organizational reporting relationships, scope of work, areas of responsibility and accountability, and authority.
6. In addition, TTUS Regulation 08.01 provides information on the following topics:
a. Annual audit plans and annual reports
b. Audits conducted by OAS
c. Communication with management and the board related to engagements
d. Follow-up on implementation of management action plans
e. Procurement of external audit services
f. Involuntary engagements conducted by state or federal agencies
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