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Audit chief reviews independence, objectivity and reporting lines
Summary
Chief Audit Officer Blaine Clements briefed the committee on obligations under Institute of Internal Auditors guidance, stressing objectivity, structural independence (a dotted reporting line to the committee) and disclosure if independence is impaired; he reported no current impairments.
Mister Blaine Clements briefed trustees on the internal audit office's obligations under mandatory guidance from the Institute of Internal Auditors, focusing on the principles of independence and objectivity.
Clements said objectivity is maintained daily through internal checks and that independence is structural: the audit office maintains a dotted reporting line to the audit committee so audit staff can audit the president when required. He said those principles are embedded in the audit committee charter, the internal audit charter and related policies, and that the office undergoes an audit every five years to confirm compliance.
Clements said if independence or objectivity were ever impaired in fact or appearance, the office would disclose it and treat it as a conflict of interest or a scope/record limitation. He told trustees he had nothing to report on impairments at this time. A trustee commented that audit oversight is vital to protect the university's reputation and the president.
The committee received the briefing as information and did not take formal action.
