Per Regents' Rules and Regulations, Rule 10402, the Audit, Compliance, and Risk Management Committee (ACRMC) shall:
- Provide strategic oversight and direction to Systemwide internal audit activities, a primary source of independent and objective risk information.
- Conduct appointment, evaluation, and dismissal duties, specifically:
- Approve the appointment of System Administration and institutional audit committee chairs. By extension, this recognizes the role of the System Administration and institutional audit committees as risk advisors to the ACRMC and their authority derived from the Board of Regents.
- Take personnel actions regarding appointment and dismissal of the U.T. System Chief Audit Executive following recommendations by the General Counsel to the Board of Regents and the Chancellor. The U.T. System Chief Audit Executive shall hold office subject to the pleasure of the ACRMC.
- Perform the annual evaluation of the U.T. System Chief Audit Executive.
- Provide concurrence with any president’s appointment and dismissal of institutional chief audit executives with advice and recommendation from the U.T. System Chief Audit Executive.
- Consider, review, and when appropriate refer to the full Board of Regents matters regarding the activities of the Office of Systemwide Compliance, as an integral component of Systemwide risk oversight.
- Be primarily responsible for the Systemwide risk oversight function of the Board of Regents. Provide relevant information from risk management activities, risk assessments and reviews, and reports both internal and external to the Board of Regents.
- Consider, review, and when appropriate refer to the full Board of Regents matters regarding the activities of the Office of Risk Management, Office of Information Security, and any other management function with a significant Systemwide risk oversight role.
- Consider, review, and recommend to the full Board of Regents factors to be considered in establishing Board and Board Committee risk tolerance and risk mitigation strategies.
Committee Chairman
Committee Regents
Christina Melton Crain
Jodie Lee Jiles
Janiece Longoria
Kelcy L. Warren
James C. “Rad” Weaver
