File #: 2021-0528   
Type: Informational Report Status: Filed
File created: 7/29/2021 In control: Finance, Budget and Audit Committee
On agenda: 9/15/2021 Final action: 9/15/2021
Title: RECEIVE AND FILE the Management Audit Services (MAS) FY 2021 fourth quarter status report and cumulative year-end report.
Sponsors: Finance, Budget and Audit Committee
Indexes: Audit, Contract administration, Contracts, Evaluation and assessment, Financial Audit, Governance, Informational Report, Program Management
Attachments: 1. Attachment A - FY2021 Q4 Status Report & Cumulative Year-End Report, 2. Presentation
Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
SEPTEMBER 15, 2021


Subject
SUBJECT: MANAGEMENT AUDIT SERVICES FY 2021 FOURTH QUARTER STATUS REPORT AND CUMULATIVE YEAR-END REPORT

Action
ACTION: RECEIVE AND FILE

Heading
RECOMMENDATION

Title
RECEIVE AND FILE the Management Audit Services (MAS) FY 2021 fourth quarter status report and cumulative year-end report.

Issue
ISSUE

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 in progress, including information related to audit follow-up activities.

Background
BACKGROUND

It is customary practice for MAS to deliver the quarterly audit report. The FY 2021 fourth quarter report covers the period of April 1, 2021, through June 30, 2021; and cumulative FY 2021 year-end for the period of July 1, 2020, through June 30, 2021.

Discussion
DISCUSSION

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 related to Operations, Finance and Administration, Planning and Development, Program Management, Information Technology, Communications, Risk, Safety and Asset Management including 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's functional units provide assurance to the p...

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