MINUTES OF THE MEETING UNIVERSITY OF HOUSTON SYSTEM BOARD OF REGENTS AUDIT COMMITTEE November 1, 2005
| Members Present: | Members Absent: |
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Calvin W. Stephens, Chair Michael J. Cemo, Vice Chair Morrie K. Abramson Dennis D. Golden Raul A. Gonzalez Leroy L. Hermes Morgan Dunn O’Connor Lynden B. Rose Thad “Bo” Smith |
The Audit Committee of the University of Houston System Board of Regents convened in the Melcher Board Room, Athletics/Alumni Center on Tuesday, November 1, 2005. Noting the presence of a quorum, Chair Stephens called the meeting to order at 10:45 a.m.
Mr. Guyton presented the following items for information:
1. Audit Committee Charter and Checklist – UH System. The Audit Committee Charter and Checklist are recommended guidelines for the operation of the Audit Committee which are required by Board of Regents By-law 4.6.1.b. The Audit Committee Charter and Checklist, item number 26, requires an annual review and update.
2. Institutional Compliance Status Report for the three Months Ended September 30, 2005 – UH System. The Institutional Compliance Status Report summarizes the information provided by each institution for their respective compliance functions.
3. External Audit Reports – UH System. The Audit Committee Charter and Checklist, item number 13, requires the Committee to review any significant findings and recommendations of the State Auditor and any employed public accounting firm.
4. Internal Audit Report – Briefing Booklet – UH System. The Internal Audit Briefing Booklet contains an Internal Audit Activity Outline and Internal Audit Reports issued since the August 2, 2005, Audit Committee Meeting of the Board of Regents.
5. Ethics and Conflict of Interest Policies – UH System. The Audit Committee Charter and Checklist, item number 23, requires an annual review of the Ethics and Conflict of Interest Policies of the Board and each of the universities.
6. Annual Fraud Prevention and Awareness Report – UH System. The Audit Committee Planner, Item 5.05, requires the Committee to evaluate management’s identification of fraud risks, the implementation of antifraud prevention and detection measures, and the creation of the appropriate “tone at the top” by reviewing an annual report which summarizes the fraud risk analyses and related risk mitigation strategies.
Copies of all handouts are on file in the Board of Regents Office.
All documentation submitted to the Committee in support of the foregoing action items, including but not limited to “Passed” agenda items and supporting documentation presented to the Committee, is incorporated herein and made a part of these minutes for all purposes.
There being no further business to come before the committee, the meeting adjourned at 11:35 a.m.
| Others Present: | ||
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G. Jay Gogue Bill Staples John M. Rudley Dona Hamilton David Bradley Elaine Charlson Steve Hall Don Smith Janis Newman Michelle Sabino Marquette D. Hobbs
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Tim Hudson Grover Campbell Donald J. Foss Michael Rierson David Bell Michelle Dotter Don Guyton Dave Irvin Molly Woods Diane Murphy |
Max Castillo Elwyn C. Lee Arthur Vailas Jim Hayes Wayne Beran Mike Emery Ed Hugetz Jim McShan Raymond Bartlett Averill Buchanan |
