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Internal Audit Program Presentation to the Audit Committee June 3, 2021 Presented by: Khala Stanfield, Director, Organizational Performance Agenda 2 • Risk Assessment Results • Proposed Audit Plan For FY2021-22 • Procurement of third-party firm Risk Assessment 3 • Risk Assessment required by Section 2-58 (A) of the Ordinance was performed by previous Independent Internal Audit Program (IIAP) manager • Met with various department’s leadership to discuss risk areas in their respective departments, programs and processes • Designed a methodology to assess risk criteria Risk Assessment 4 • Risk Assessment Criteria Discussions with management focusing on six risk areas – (a) financial; (b) regulatory; (c) complexity of operations; (d) reputation; (e) susceptibility to errors/fraud; and (f) degree of change in systems, processes, legislation and personnel Evaluation of inherent risk Evaluation of control effectiveness Evaluation or residual risk Management’s alignment Proposed FY2021-22 Audit Plan 5 • From the Risk Assessment results (22), we have selected 14 risked-based audits to perform during FY2021-22. – Internal Resources (6) – External Firm (8) • We considered the risk rating, management input, staffing resources, legislative changes and industry trends. • The remaining 8 audits will be subjected to a new risk assessment process that will be conducted in FY22. Proposed FY2021-22 Audit Plan 6 Proposed FY2021-22 Audit Plan 7 Questions? Procurement of Third-Party Firms 9 • Recommendation: Moss Adams to conduct 2 independent audits (Housing-Facilities Management and Transportation-Intelligent Transportation Systems) in first quarter of FY22. • IIAP will provide oversight and monitor the work of Moss Adams to ensure effectiveness of the audit process and results. Procurement of Third-Party Firms 10 • IIAP will request quotes for the remaining 6 audits assigned to an external firm(s) based on the Qualified Vendors List that was approved by the Audit Committee and effective February 25, 2020-June 30, 2024 – Securance LLC – Protiviti Inc. – Moss Adams – Henry & Horne – Heinfeld Meech Questions?