Senate Bill 788 proposes the establishment of an Office of Internal Audit within the Department of Employee Trust Funds (ETF) in Wisconsin. This new office will be directed by an internal auditor who will be appointed by the Employee Trust Funds Board and will operate outside the classified service, reporting directly to the board. The bill amends several sections of the statutes to facilitate this change, including the creation of new provisions that allow the Employee Trust Funds Board to create or abolish the internal auditor position and to set the auditor's compensation.

Additionally, the bill modifies existing statutes to include the internal auditor in the general senior executive group 1 alongside other key positions within the ETF. It outlines the responsibilities of the internal auditor, which include conducting audits, risk assessments, and ensuring compliance with legal requirements related to the public employee trust fund assets. The bill also includes provisions for the transition of the current internal auditor to the new role under the Office of Internal Audit, ensuring continuity in the position until a new appointment is made.

Statutes affected:
Bill Text: 15.165(title), 15.165, 16.50(3)(b), 16.50, 16.505(1)(intro.), 16.505, 20.923(7)(intro.), 20.923, 20.923(7)(a)