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Audit committee approves TSSBA management risk assessment
Summary
The Tennessee State School Bond Authority audit committee on July 27 approved the authority’s annual management risk assessment after a presentation by Kayla Carr of the state government finance team. The vote followed a summary of testing of internal controls.
The Tennessee State School Bond Authority audit committee on July 27 approved the authority’s annual management risk assessment following a presentation by Kayla Carr.
Kayla Carr, who the Chair introduced as representing the state government finance team that administratively serves the authority, summarized the team's review: “we do conduct a risk assessment each year. We look at those, significant risks and we do identify controls, internal controls that are in place. We do testing of those internal controls to make sure that they are working effectively, and that was provided.” The presentation described identification of significant risks and testing of controls to confirm effectiveness.
A committee member moved to approve the management risk assessment and the Chair seconded. Kayla then called the roll and members signaled approval. The committee recorded the item as approved with no further action requested at the meeting.
