USM Board of Regents Committee on Audit Meets March 18

Adelphi, Md. (March 16, 2016) -- The University System of Maryland (USM) Board of Regents Committee on Audit will meet at 10 a.m. on Friday, March 18. The meeting will be held in the Chancellor's Conference Room in the Elkins Building at the USM headquarters, 3300 Metzerott Road, Adelphi, MD.

In public session, the committee will hear several discussion items. They include a review of the independent auditor's A133 Single Audit results, USM's half-year (through 12/31/15) financial statements, and procedures for reviewing Board of Regents bylaws and policies.

The committee then will vote on whether to reconvene in closed session. In closed session, the committee would consider issues specifically exempted in the Open Meetings Act from the requirement for public consideration.

Those issues are: 1) To maintain the confidentiality of matters involved in ongoing legislative audits, as required by Section 2-1226 of the State Government Article of the Annotated Code of Maryland (GP Section 3-305(b)(13)); 2) To discuss ongoing investigations by the USM Office of Internal Audit; which potentially could result in criminal prosecutions (GP Section 3-305(b)(12)); 3) To discuss certain calendar year 2016 audit plans by the USM Office of Internal Audit, maintaining confidentiality of the plans (GP Section 3-103(a)(1)(i); and 4) To maintain the confidentiality of the Committee's meeting separately with the independent auditors and the Director of Internal Audit (GP Section 3-103(a)(1)(i).

The agenda for the public session and closing statement are available here.


Contact: Mike Lurie
Phone: 301.445.2719