Categorization of Audit Types
Financial Audits (Excluding Attest & Assurance)
Financial-related audits include determining whether:
- financial information is presented in accordance with established or stated criteria,
- the entity has adhered to specific financial compliance requirements, or
- the entity's internal control structure over financial reporting and/or safeguarding assets is suitably designed and implemented to achieve control objectives.
Operational, Compliance, Performance Audits
These audits may include any or all of:
- determining the extent to which the desired results or benefits established by the legislature or other authorizing body are being achieved,
- the effectiveness of organizations, programs, activities, or functions,
- whether the City division is acquiring, protecting, and using its resources (such as personnel, property, and space) economically and efficiently, and
- whether the City division has complied with laws and regulations applicable to the program.
Fraud and Waste Hotline
Manages the Concerned Citizen and Employee hotline referring issues to senior management or the City's Internal Audit team as defined by the Council approved mandate.
Follow -up Audits
On an annual basis, the Auditor General notifies the City of outstanding recommendations. Management staff will report back to the Auditor General on recommendations that have been implemented. The Auditor General then verifies that the recommendations have in fact been implemented.
The results of the follow-up of recommendations are reported to the Audit Committee annually and cover findings raised across the City, agencies, boards or commissions.
Management & Oversight
This involves regular Auditor General efforts.
It further includes the oversight of project activities, meetings, interacting with complainants, review/observation/attendance at Council meetings, status reporting, report writing, and Committee reporting
Time is also set aside to deal with requests as they arise (ad hoc).