Sec. 2102.013. ANNUAL RISK ASSESSMENT; REPORT. (a) A state agency described by Section 2102.004(b) shall conduct each year a formal risk assessment consisting of an executive management review of agency functions, activities, and processes.
(b) The risk assessment must:
(1) evaluate the probability of occurrence and the likely effect of financial, managerial, and compliance risks and of risks related to the use of information technology; and
(2) rank risks according to the probability of occurrence and likely effect of the risks evaluated.
(c) The state agency shall submit the written risk assessment to the state auditor in the form and at the time prescribed by the state auditor.
Added by Acts 2003, 78th Leg., ch. 291, Sec. 2, eff. June 18, 2003.
Structure Texas Statutes
Subtitle C - State Accounting, Fiscal Management, and Productivity
Chapter 2102 - Internal Auditing
Section 2102.004. Applicability
Section 2102.005. Internal Auditing Required
Section 2102.006. Internal Auditor; Staff
Section 2102.007. Duties of Internal Auditor
Section 2102.008. Approval of Audit Plan and Audit Report
Section 2102.009. Annual Report
Section 2102.0091. Reports of Periodic Audits
Section 2102.010. Consultations
Section 2102.011. Internal Audit Standards
Section 2102.012. Professional Development
Section 2102.013. Annual Risk Assessment; Report
Section 2102.014. Evaluation of Risk Assessment Reports; Audits
Section 2102.015. Publication of Audit Plan and Annual Report on Internet