FAMU’s audit committee held a meeting Wednesday to address internal and external issues the university is facing, including allegations against the use of student activity funds.
“The audit committee’s biggest issues is addressing the concerns that were raised with the investigations in and out since we’ve had the accretive solutions who are making sure their recommendations are carried out,” said Richard Givens, the interim vice president of audit and compliance.
The division’s activities primarily determine whether or not resources are being used correctly, effectively and efficiently. It provides a better operation for the university and is part of overall internal control.
The audit committee, which oversees the division of audit and compliance, work with external audit firms to make precise decisions related to certain types of financial reports.
The committee’s work is expected to finish by mid May, and the board will develop a plan to be voted on at the next meeting.
President James Ammons said, “I think one other point that should be made, in addition to the staff that we have in place currently, there are vacancies that are funded and will be filled by the vice president.”
A written report will be provided early next week on the allegations against the use of student activity funds.