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BOARD TRANSMITTAL

MEETING:

Committee on Audit

SUBJECT:

Highlights of Audit Findings and Recommendations

DATE:

November 21, 2017

PRESENTER:

Mike Batson

ACTION REQUIRED:

Informational Report

STAFF’S

RECOMMENDATION:

Accept Report

The following items will be discussed with the Audit Committee:

Compliance Efforts

Chattanooga State Community College – Audit of Human Resources

Motlow State Community College – Women’s Basketball Investigation

Bank Reconciliations

Federal Work-study Program

STATUS SUMMARY FOR PREVIOUSLY REPORTED FINDINGS

Comptroller’s Audit Reports - Following is a summary on the status of previously reported

Comptroller’s Office findings for informational purposes. Internal Audit generally

performs a follow-up review of Comptroller’s Office findings within six months of

issuance. A follow-up report is prepared and submitted to the Comptroller’s Office and the

Legislature’s Office of Fiscal Review. An executive summary of each follow-up audit is

included in the Audit Committee’s quarterly materials.

Internal Audit Reports - Following is a summary on the status of previously reported

findings and observations as of October 13, 2017. Campus auditors conduct follow up

procedures to determine if management has taken adequate corrective action and include

their conclusions on the summary log. A follow-up report may be issued by the campus

auditor if adequate corrective action has not been taken by management.

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