RECOMMENDATION
The Lead Internal Auditor recommends the Audit Committee review and recommend to the City Council acceptance of the Internal Audit/Audit Committee Midyear Report as of June 30, 2007.
SUMMARY OF RESULTS
In accordance with Municipal Code, the Lead Internal Auditor prepares an annual work program for the Audit Committee. After review and approval by the Audit Committee, the City Council approves by resolution the annual work program. This report provides the City Council with a formal update on the activities of the internal audit function as of June 30, 2007.
We have two audits in process:
- Construction contracts administration
- Cash handling, citywide
We have two audits on our annual program not yet started:
- Washington Pavilion Management contract
- Purchasing/procurement
Additionally, we have completed other work not classified as an audit:
- Assets verifications
- Fraud risk assessment
- Anti-fraud procedures
- Vendor payments
More information on these audits and projects is included in the attached report. I would like to express my appreciation to City staff for their cooperation and assistance during our audit work.
Respectfully submitted,
Rich Oksol, CPA, CGAP
Lead Internal Auditor
