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Audit update: TSU reports steady progress on state audit remediation and improved auditor collaboration
Summary
Audit and finance leaders told the Audit Committee that weekly status meetings with auditors, additional state resources and a focused remediation plan have accelerated work on FY25 and earlier findings; external audit staff described noticeable improvements in responsiveness from finance and controller teams.
TSU’s audit and finance leadership reported progress on state and external audits and outlined a remediation pathway during the Audit Committee meeting on May 14.
Why it matters: Sufficient internal controls and timely remediation of audit findings are essential for financial stability, regulatory compliance and continued receipt of state stabilization funds.
The Audit Committee chair summarized completed internal audit items for the fiscal year and then turned to the external audit picture. CFO April Robinson said the FY25 financial and compliance audit and related single‑audit work remain active; the state audit team assigned two additional resources to help speed completion so the university can receive findings, review them, and have at least 30 days to remediate before the new fiscal year begins. Robinson underscored the weekly audit status meetings that bring controller, finance and external auditors together and said the relationship has become more collaborative: "we're proactively asking them for guidance" to turn recommendations into actionable remediation steps.
Committee members noted a recent disclosure of Office of Inspector General unresolved corrective actions from an earlier period and asked that those be folded into the current remediation plan. The CFO said the controller received notice of outstanding items from the FY21 audit that had not been previously remediated and confirmed those items are now included in the current corrective action tracking.
External audit leadership (state audit representatives) commented in the meetings that responsiveness from TSU’s finance and controller staff has materially improved — an observation the committee flagged as important progress.
Next steps: The administration will continue weekly status meetings, provide remediation trackers to the Audit Committee and deliver a timetable for closing outstanding findings. The committee adjourned to executive session to discuss confidential audit matters.
