Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

REGENTS’ POLICY MANUALSECTION 3—GENERAL POLICIES17) Hire or retain, with the approval of the General Counsel and President and in amanner that is consistent with University policies, any employees or independentcontractors necessary to implement the Program and perform the compliance reviewand training functions.5—COMPLIANCE ADVISORY COMMITTEE5.1 ESTABLISHMENT OF COMMITTEEThe University shall establish a Compliance Advisory Committee consisting of: (i) the Senior VicePresident and Provost - Norman Campus; (ii) the Senior Vice President and Provost - Health SciencesCenter; (iii) the Vice President for Health Affairs and Associate Provost - Health Sciences Center; (iv) theVice President for Research - Norman Campus; (v) the Vice President for Research - Health SciencesCenter; (vi) the Associate Vice President for Clinical Research; (vii) the Vice Presidents forAdministrative Affairs; and (viii) any other University employees designated from time to time by theGeneral Counsel.5.2 PURPOSE OF COMMITTEEThe Compliance Advisory Committee will meet on a periodic basis to (i) provide advice andassistance to the Director of Compliance; (ii) discuss matters of policy applicable to the areas covered bythe Program; and (iii) receive reports from the Director of Compliance regarding the activities of theOffice of Compliance and developments regarding compliance issues.The full text of the University Compliance and Quality Improvement Program is included in theNorman Campus and Health Sciences Center faculty handbooks.(RM, 1-29-02, p. 27865; 12-2-02, p. 28374; 1-27-2004, p. 28924)3.5.2—INTERNAL AUDITING CHARTERPURPOSEInternal auditing is an independent appraisal activity established within the University to examine andevaluate its activities. The objectives of internal auditing are to assist members of the organization in theeffective discharge of their responsibilities by furnishing them with analysis, appraisals,recommendations, and pertinent comments concerning the activities reviewed. However, the internalaudit review and appraisal of an area shall not in any way relieve management of its assignedresponsibilities.AUTHORITYOklahoma law provides that the Board of Regents shall establish an internal audit function thatemploys a sufficient number of internal auditors to meet the Board of Regents’ fiduciary responsibilities.The internal audit function shall be responsible to the Board of Regents and the President and shall beconducted in accordance with “Standards for the Professional Practice of Internal Auditing.” ThePresident and all members of the Board of Regents shall receive copies of the audit reports, as will theState Auditor and Inspector. The Board of Regents shall, at least annually, review and prescribe the planof work to be preformed by the internal auditors.THE UNIVERSITY OF OKLAHOMA 217