(a) A state agency shall conduct a program of internal auditing that includes:
(1) an annual audit plan that is prepared using risk assessment techniques and that identifies the individual audits to be conducted during the year; and
(2) periodic audits of the agency’s major systems and controls, including:
(A) accounting systems and controls;
(B) administrative systems and controls; and
(C) electronic data processing systems and controls.
(b) In conducting the internal auditing program under Subsection (a), a state agency shall consider methods for ensuring compliance with contract processes and controls and for monitoring agency contracts.