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Committee receives information items on external auditor review and internal‑controls policy
Summary
Chief Auditor reported the administration's FY24 review of CliftonLarsonAllen (new external auditor) was positive and that a comprehensive review of the internal‑controls policy (COSO framework) found only a technical correction; both items were informational with no committee action.
Chief Auditor Galswyck presented two information items late in the meeting: an annual review of the external-auditor relationship and a comprehensive review of the university's internal-controls policy.
On the external audit relationship, the chief auditor said FY24 was CliftonLarsonAllen's first year serving as external auditor and that the administration found the firm provided strong higher-education experience, a fair audit approach and reasonable engagement fees while identifying only minor opportunities for improvement.
On internal controls, Galswyck said the comprehensive review of the Board policy on internal controls (which relies on the COSO framework and delegates responsibility for controls to the president) identified no major changes and only one technical correction listed in the meeting docket. If the committee raises no objections, the policy review will be considered complete and the technical correction will be implemented.
Both items were presented for committee information; no committee action was recorded during the meeting.
