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Audit Committee Charter

The University of Texas at San Antonio Audit Committee Charter

AUTHORITY
UT System Policy on Internal Audit Activities (UTS129), authorizes the establishment of the Institutional Audit Committee. Appendix A of the System-wide Internal Audit Charter, states:
Each component institution will organize and
maintain an institutional audit committee.

ROLE
The University of Texas at San Antonio (UTSA) Audit Committee is an essential component of the Risk Management and Internal Control infrastructure. Its primary responsibilities are to assist the president in the:

  1. Oversight and direction of UTSA's internal auditing function.
  2. Oversight of UTSA's processes to manage business and financial risks,
  3. Oversight of any external public accounting firms hired by UTSA,
  4. 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 President appoints the members of the UTSA Audit Committee. Membership should include:

  1. The President, Chief business Officer, Chief Academic Officer, and other key members of senior management at UTSA.
  2. At least one member from outside the institution (chosen by the President) is strongly encouraged.
  3. The Chairman is the President or the President's designee.

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

MEETINGS
The UTSA Audit Committee should meet periodically (at least quarterly) 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 UTSA 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 UTSA 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 the UTSA Audit Committee responsibilities, the most recently updated responsibilities checklist will be considered to be an addendum to this charter.

EDUCATION
The UTSA Auditing and Consulting Services Office, System Audit Office, UT System Controller's Office will provide educational materials when they become available to the UTSA Audit Committee members to discharge their responsibilities.