(a) Any governing body that oversees a state agency that performs or reviews internal audits shall establish an audit committee that generally meets the frameworks recommended by the American Institute of Certified Public Accountants, as set forth in the publication entitled “AICPA Audit Committee Toolkit: Government Organizations.”
(b) For purposes of this chapter, “governing body” means a board, commission, board of trustees, council, or other similar body that oversees a state agency.