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as necessary and may employ outside professional assistance in performance of its duties if it deems this desirable. The audit and review committee shall report its findings directly to the Board of Regents at appropriate intervals, but not less frequently than annually. 

4.02 [[underlined]] Investment Policy Committee. [[/underlined]] With approval of the Board of Regents, the Chancellor shall appoint an investment policy committee including no fewer than three members of the Board of Regents. The investment policy committee shall be responsible for continuing supervision of the Institution's permanent investment program and shall perform such related functions as may be assigned to it by the Board of Regents. The investment policy committee may call upon the Institution's officers or staff for assistance in the performance of its duties if it seems desirable. The investment policy committee shall report its findings, conclusions and recommendations to the Board of Regents. 

4.03 [[underlined]] Other Standing or Special Committees. [[/underlined]] The Board of Regents shall have power to establish other standing or special committees. Any committee so established may call upon the Institution's officers or staff for assistance and may seek outside consultation or professional assistance in the performance of its assigned functions.