53G-7-401. Definitions.
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Effective 1/24/2018
53G-7-401. Definitions.
As used in this part:
(1)"Audit committee" means a standing committee:
(a)appointed by the local school board or charter school governing board with the following number of members as applicable to the local school board or charter school governing board:
(i)for a board of a local education agency that consists of seven or more members, three members of that board; or
(ii)for a board of a local education agency that consists of six or fewer members, two members of that board; and
(b)composed of people who are not administrators or employees of the local education agency.
(2)"Audit director" means the person who directs the internal audit program.
(3)"Audit plan" means a prioritized list of audits to be performed by an internal audit program within a specified period of time.
(4)"Internal audit" means an independent appraisal activity established within a local education agency as a control system to examine and evaluate the adequacy and effectiveness of other internal control systems within the local education agency.
(5)"Internal audit program" means an audit function that:
(a)is conducted by a local school board or charter school governing board independent of the local education agency offices or other operations;
(b)objectively evaluates the effectiveness of the local education agency governance, risk management, internal controls, and the efficiency of operations; and
(c)is conducted in accordance with the current:
(i)International Standards for the Professional Practice of Internal Auditing; or
(ii)The Government Auditing Standards, issued by the Comptroller General of the United States.
(6)"Local education agency" means a school district or charter school.
Renumbered and Amended by Chapter 3 , 2018 General Session