Audit Committee adopts FY2026 audit plan, approves fraud-prevention policy and minutes

The Austin Peay State University Audit Committee approved the proposed Fiscal Year 2026 audit plan, adopted University Policy 10‑16, “Preventing and Reporting Fraud, Waste, and Abuse,” and approved the committee minutes from April 11, 2025.

The committee approved the audit plan after staff described how the Office of Internal Audit bases its annual plan on staffing levels and a campus risk analysis. The plan lists an annual audit of the president’s office (required by state law), two information-technology audits, two audits in academic affairs, two in student affairs, one in the financial-data area and two additional audits “on deck” to be performed if time permits. The Institute of Internal Auditors’ Global Internal Audit Standards require the audit committee to approve the annual plan and any significant changes.

University policy review was the other action item. The committee reviewed University Policy 10‑16, which defines responsibilities for university officers, management, students, contractors and employees in preventing and reporting fraud, waste and abuse. The policy undergoes a five‑year review by the university policy committee; internal audit reported no substantive changes from that review. The committee voted to adopt the policy as written.

All three items were moved, seconded and approved by voice vote. Trustee Mealer said he appreciated the governance measures in place and the campus’ internal controls, adding, “Predictions are hard, especially about the future,” a remark he attributed to Yogi Berra.

The approvals conclude the committee’s action items for the meeting; the committee adjourned the public session at 9:39 a.m.