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MS SB2840
Bill
AI Summary
- Removes the requirement that hiring of an internal audit director by universities, community/junior colleges, and state agencies be subject to specific appropriation of available funding
- Requires these institutions and agencies to employ an internal audit director appointed by the university president/chancellor, college president, or agency head
- Maintains existing requirements that internal audit staff remain organizationally independent from management and free from operational responsibilities that would impair audit independence
- Allows institutions and agencies to outsource the internal audit function if determined more cost-efficient, provided the same firm does not perform independent audits or other consulting services for that entity
- Takes effect July 1, 2021
Legislative Description
State agencies; revise requirement for employing an internal audit director.
Last Action
Died In Committee
2/2/2021
Committee Referrals
Accountability, Efficiency, Transparency1/18/2021
Full Bill Text
No bill text available