Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
FEBRUARY 20, 2025
Subject
SUBJECT: MANAGEMENT AUDIT SERVICES FY 2025 SECOND QUARTER REPORT
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE the Management Audit Services FY 2025 Second Quarter Report.
Issue
ISSUE
Management Audit Services (MAS) is required to provide a quarterly activity report to Metro's Board of Directors (Board) that presents information on audits that have been completed or are in progress, including information related to audit follow-up activities.
Background
BACKGROUND
It is customary for MAS to deliver the quarterly status report. The FY 2025 second quarter report covers the period from October 1, 2024, to December 31, 2024.
MAS provides audit services in support of Metro's ability to provide responsive, accountable, and trustworthy governance. The department performs internal and external audits. Internal audits evaluate the processes and controls within the agency, while external audits analyze contractors, cities, and/or non-profit organizations that are recipients of Metro funds. The department delivers management audit services through functional groups: Performance Audit; Contract, Financial and Compliance Audit; and Administration and Policy, which includes audit support functions. Performance Audit is mainly responsible for internal audits of Metro Departments and their operating units, including Planning and Development, Operations, Program Management, The Chief People Office, Strategic Financial Management, Customer Experience, Safety, Customer Experience, and units of the Chief Executive Office and other internal areas. Contract, Financial, and Compliance Audit is primarily responsible for external audits in Planning, Program Management, and Vendor/Contract Management. MAS' functional units provide assurance to the public that internal processes and programs are being managed efficiently, effectively, economically, ethically, a...
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