53 8. The Audit Committee and the Internal Auditor 8.1 The Executive Committee shall appoint an Audit Committee and an Internal Auditor for the University, who shall operate pursuant to the Internal Audit Law, further to the recommendation of the Audit Committee. 8.2 The appointment of the Internal Auditor shall be for a period of no less than three years and no more than seven (7) years2. 8.3 The Executive Committee may, by a majority of two-thirds of its members, terminate the employment and appointment of the Internal Auditor prior to the end of the period for which he was appointed, further to the Audit Committee's recommendation, after offering the Internal Auditor an opportunity to address the Executive Committee on the matter. 8.4 The Internal Auditor's terms of employment shall be determined in a special contract by the Executive Committee and with a recommendation of the Audit Committee. 8.5 The Audit Committee shall approve the annual audit program, as submitted to it by the Internal Auditor, and shall submit it to the Executive Committee. The Executive Committee shall approve the multi-year audit program, as submitted by the Internal Auditor, further to the Audit Committee's recommendation. 8.6 The Internal Auditor shall submit a written audit report on the activities of the internal audit once a year to the Audit Committee and the President. 8.7 The Audit Committee shall deliberate on the Internal Auditor's reports. The Audit Committee is to report to the Executive Committee on its activities twice a year. Once a year, the Audit Committee shall submit to the Executive Committee the report of the Audit Committee together with the Internal Auditor's annual summary report. 2 According to the temporary provision from December 23, 2024, approved as part of Amendment 11 – the current auditor's term will be extended by an additional 18 months until July 1, 2026.
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