Such audits provide reasonable assurance that organizations receive their appropriate share of funds. They also provide reasonable assurance that funds are being used effectively in compliance with Department regulations and policies, and that adequate management controls are present. OAS also conducts audits of internal Department operations. In some instances, internal audits may crosscut processes that involve external organizations. OAS provides periodic reports to the Regents Subcommittee on Audits, which is composed of selected members of the Board of Regents.
Members receive a briefing on the results of audit findings and recommendations.
The Subcommittee, in turn, may provide information or make recommendations for action to the Board of Regents and other Regents committees, as well as to the Commissioner.