Audit, Risk Management, Compliance & Ethics Committee
The Committee’s jurisdiction shall include audit, compliance, ethics, and conflicts of interest.
The Committee shall meet with representatives of the State Auditor’s office to review the institution’s annual audit report and discuss corrective actions if needed; review audit reports of University-associated entities; receive quarterly reports from the University’s internal auditor; develop and maintain a charter to define roles and responsibilities, including the assurance that the institution is performing self assessments of operating risks and evaluations of internal controls on a regular basis; assure that internal audit functions will be carried out in a way that meets professional standards; at the beginning of the audit cycle, review and approve a summary of the annual internal audit plan for the campus; at the end of the cycle, review a comparison of the plan advanced to the internal audits performed; prepare and forward to the Board of Governors an annual summary of the work performed by the Audit Committee, including a report of the work of the campus internal auditor that indicates any identified material reportable conditions and how they were addressed.
The Committee shall meet upon the call of the Chair and a majority of the members of the Audit Committee shall constitute a quorum for the transaction of business. The Committee shall meet no fewer than four times a year.
The internal auditor shall report to the Chancellor but shall also have a reporting relationship to the chair of the Committee to enable the auditor to freely discuss professional issues with the Committee chair.
The Chancellor shall consult with the Committee regularly concerning all matters related to the Committee’s responsibilities and annually at the Board’s fall meeting concerning East Carolina University’s efforts to assure the adequacy of management staff and the existence of sufficient fiscal controls to administer additional authorities authorized under North Carolina General Statutes G.S. 116-30.1.
Vince Smith, Chair
Vanessa Workman, Vice Chair