Audit & Risk Management

Committee Chairperson

John R. Sholtis Jr.

Members:

Theresa Eberhard Asch, Angelo J. Messina, John H. Motley, John R. Sholtis Jr.,

Committee Charge:

The Committee deliberates and makes recommendations to the full Board including but not limited to those identified within the Committee Charter and:

The Audit and Risk Management Committee is a standing committee of the Board of Trustees. Its principal purposes are to:

• see that appropriate accounting policies and internal controls are established and followed;
• make certain that CSUS issues accurate financial statements and reports on time and in accordance with regulatory requirements and Connecticut Health and Educational Facilities Authority (CHEFA) bond covenants;
• ensure that appropriate policies are in place to mitigate and guard against risk to System assets and systems; and
• receive reports regarding areas of risk within System operations.
• Review and accept reports from the Internal Audit Department relative to the Connecticut State University System’s internal accounting controls to assure that assets are safeguarded, that transactions are authorized, that transactions are properly recorded, and that Board policies and other regulations are adhered to.
• Approve an annual audit plan for the universities and System Office developed by the Director of Internal Audit. Approve requests for special internal audits not included in the annual audit plan.
• Review the annual report, management letter, and results of the external audit.
• Review and receive audits prepared by the State Auditors of Public Accounts.
• Report its activities to the full Board on a regular basis including audit results and corrective actions taken on findings and recommendations.

Staff to Committee

Pamela Kedderis, Vice Chancellor for Finance and Administration
David Trainor, Executive Assistant to the Chancellor and Associate Vice Chancellor for Human Resources & Labor Relations

Audit & Risk Management Meetings
Date	Time	Location	Supporting Documents
December 08, 2011	9:00 am	System Office	Agenda | Minutes
October 20, 2011 CANCELLED	8:30 am	System Office
July 14, 2011 CANCELLED	8:30 am	System Office
May 05, 2011	8:30 am	System Office	Agenda | Minutes
February 03, 2011 CANCELLED	8:30 am	System Office	Agenda
December 10, 2010	9:00 am	System Office	Agenda | Minutes
October 14, 2010	8:30 am	System Office	Agenda | Minutes
July 15, 2010	8:30 am	System Office	Agenda | Minutes
May 06, 2010	8:30 am	System Office	Agenda | Minutes
February 04, 2010	8:30 am	System Office	Agenda | Minutes
November 05, 2009	8:30 am	System Office	Agenda | Minutes
July 17, 2009	8:30 am	System Office	Agenda | Minutes
May 08, 2009	8:30 am	System Office	Agenda | Minutes
January 08, 2009	8:30 am	System Office	Agenda | Minutes