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Audit committee approves revised FY2026 audit plan after brief presentation
Summary
The Austin Peay State University Audit Committee approved a revised fiscal year 2026 audit plan that shifts two routine items and emphasizes business operations and risk-based audits, Chief Audit Officer Blaine Clements told trustees.
The Austin Peay State University Audit Committee approved a revised fiscal year 2026 audit plan after a presentation by Blaine Clements, the university's Chief Audit Officer. The committee voted to adopt the plan by voice vote following a brief explanation of changes.
Clements told trustees the Office of Internal Audit prepares an annual audit plan based on staffing and a risk analysis and that the committee previously approved the FY2026 plan on June 6, 2025. He said two adjustments were included in the revised plan: removing a planned state-audit follow-up because there was no outstanding finding to pursue, and moving the routine bucket of fraud-investigation hours into a separate investigation line so allegations can be handled as they arrive. "We always plan to do a state audit follow-up, but this year... there's not a finding for us to follow up on," Clements said. He added that fraud-investigation hours are separated out when allegations come in.
Clements noted the office intends to prioritize audits of business operations, which represent about 75% of planned audit time, and that approximately 65% of audit hours are allocated to risk-based audits. Trustees moved and seconded the motion to approve the revised plan; the motion carried by voice vote.
The action is procedural: the committee approved the office's allocation of audit resources for FY2026, with staff instructed to follow the revised plan and handle any ad hoc investigations through the designated investigation line.
