Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
FEBRUARY 19, 2020
Subject
SUBJECT: MANAGEMENT AUDIT SERVICES FY 2020 SECOND QUARTER REPORT
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE Management Audit Services (MAS) quarterly report for the period ending December 31, 2019.
Issue
ISSUE
MAS is required to provide a quarterly activity report to Metro's Board of Directors that includes 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 Metro's Management Audit Services to the deliver the quarterly audit report. This report covers Q2 of FY2020.
Discussion
DISCUSSION
MAS provides audit support to Metro's Chief Executive Officer (CEO) and the CEO's senior leadership team in support of the agency's ability to provide responsive, accountable and trustworthy governance. The department performs internal or 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 which are Performance Audit; Contract; Financial and Compliance Audit; and Audit Support. Performance Audit is primarily responsible for all 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 departments. Contract, Financial and Compliance Audit are responsible for external audits in Planning and Development, Program Management and Vendor/Contract Management. MAS's functional units provide assurance to the public that internal processes are efficiently, economically, ethically, and equitably performed by conducting audits of program ef...
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