Cost: The audit and compliance committee has oversight of all audit matters and all compliance actions, together with making certain sound fiscal and administration insurance policies and practices. It additionally offers oversight to ensure full compliance with all applicable native, state, and federal laws and rules.
The Systemwide Compliance Officer is accountable, and might be held accountable for, apprising the Chancellor and the ACMRC of the institutional compliance features and activities at System Administration, UTIMCO, and at every of the establishments as set out in Section 2.1 (b) beneath. The Systemwide Compliance Officer gives institutional compliance help to the Chancellor, the Deputy Chancellor, the Executive Vice Chancellors, the Vice Chancellors, and the Chief Compliance Officer of UTIMCO within the exercise of their tasks.
The Committee, in discharging its oversight role, is empowered to study or examine any matter related to audit, compliance, and administration of interest or concern that the Committee, in its sole discretion, deems applicable for study or investigation by the Committee. The Committee shall be given full access to all UH System staff and operations as obligatory to carry out this authority. The Committee by means of its chair is allowed to engage outside experience, to the extent permitted by applicable law, ought to it select to do so.