Periodic Assessment
The Chief Audit Executive will annually assess whether the purpose, authority, and responsibility, as defined in this charter, continue to be adequate to enable Internal Audit to accomplish its objectives. The result of this periodic assessment should be communicated to Audit and Finance Committee. The Audit and Finance Committee will annually review and affirm the Internal Audit Charter.
In addition, the Chief Audit Executive will periodically review the quality and effectiveness of the internal audit activity to include compliance with the International Standards for the Professional Practice of Internal Auditing. This includes a Quality Assurance Review as directed by the Texas Internal Auditing Act, Chapter 2102 of the Texas Government Code. The Chief Audit Executive will communicate to the Audit and Finance Committee on the internal audit activity’s quality assurance and improvement program, including results of ongoing internal assessments and external assessments conducted at least every three years.