SECTION 17.114. Audit Components

Audits consist of two components:

(1) On-Site Audit of an Institution's Facilities Inventory:

(A) Institutions may participate in the Peer Review Team (PRT) process, by which institutions aid in auditing one another, with the participation of THECB staff. Institutions participating in the PRT program must provide one or more qualified individuals with facilities management for the PRT pool maintained by the THECB Staff; or

(B) Institutions choosing not to participate in the PRT audit process are required to conduct self-audits in accordance with Subchapter F, 17.110(c).

(2) Audit of an Institution's Facilities Development Projects:

(A) The Internal Auditor of an institution (or its System Office) may determine if facilities projects were submitted to the Board in accordance with §17.20 of this title (Relating to Facility Projects to Be Submitted to the Board) and submit a report to the THECB.

(B) The THECB shall publish a Facilities Audit Protocol on the agency's website, including details on the process and timing of these components.

Source Note: The provisions of this §17.114 adopted to be effective November 11, 2021, 46 TexReg 7605