POLICY NUMBER:
200.01
ADOPTED:
3.17.2015
Board Policy
- The Board of Education shall establish a District audit committee as a standing committee of the Board and shall appoint the members of the committee and replace such members from time to time. The committee shall consist of three members of the Board of Education having appropriate character and qualifications but who are not administrators or other employees of the District.
- The audit committee shall have the following responsibilities:
- ensuring that the district’s management properly develops and adheres to a sound system of internal controls consistent with the requirements of R277-113-5;
- receiving a report of the risk assessment process undertaken by the district’s management in developing the system of internal controls;
- developing a process to review financial information, financial statements, and district and individual school records on a regular basis;
- ensuring that the district’s management conducts a competitive RFP process to hire external auditors and other professional services and making a recommendation to the Board of Education on the results of the RFP process consistent with the State Procurement Code;
- receiving communication from or meeting with the external auditors annually and receiving a direct report of the audit findings, exceptions, and other matters noted by the auditor;
- reporting the annual audit reports and findings or other matters communicated by the external auditor or other regulatory bodies to the Board of Education in a public meeting;
- ensuring that matters reported by external audits, internal audits, or other regulatory bodies are resolved in a timely manner;
- establish an internal audit program which is independent of other district offices, objectively evaluates the effectiveness of district operations (including governance, risk management, internal controls, and efficiency of operations), and is conducted in accordance with either the current International Standards for the Professional Practice of Internal Auditing or the Government Auditing Standards issued by the Comptroller of the United States;
- ensure that copies of all reports of audit findings issued by the internal auditors are available upon request to the audit director of the State Office of Education, the Office of the State Auditor, and the Office of Legislative Auditor General;
- ensure that significant audit matters that cannot be appropriately addressed by the internal auditors are referred to the audit director of the State Office of Education, the Office of the State Auditor, or the Office of Legislative Auditor General; and
- The Board Audit Committee will advise the Board of Education regarding appointment of an audit director or regarding a contract for internal audit services.
- Internal Audit Program: The audit committee shall establish an internal audit program. An “internal audit program” is an audit function conducted by the Board of Education which is independent of other district offices, objectively evaluates the effectiveness of district operations (including governance, risk management, internal controls, and efficiency of operations), and is conducted in accordance with either the current International Standards for the Professional Practice of Internal Auditing or the Government Auditing Standards issued by the Comptroller of the United States. An “audit director” is an individual who directs the internal audit program. With the advisement of the audit committee, the Board of Education may appoint an audit director. Rather than appointing an audit director, the Board of Education may also, with the advisement of the audit committee, contract directly for internal audit services.
Forms
None
Document History
Adopted – 3.17.2015.
This online presentation is an electronic representation of the Canyons School District’s currently adopted policy manual. It does not reflect updating activities in progress. The official, authoritative manual is available for inspection in the office of the Superintendent located at 9361 South 300 East Sandy, UT 84070.
