Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
AUGUST 17, 2022
Subject
SUBJECT: MANAGEMENT AUDIT SERVICES FY 2022 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 2022 fourth quarter status report and cumulative FY2022 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 2022 fourth quarter report covers the period of April 1, 2022, through June 30, 2022; and the cumulative FY 2022 year-end for the period of July 1, 2021, through June 30, 2022.
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 and reviews such as special projects related to the programs and activities under the purview of the Office of the Chief Executive Officer, the People Office (formerly Human Capital and Development), Operations, Program Management, Safety, Security and Law Enforcement, Planning and Development, including other Metro departments. Contract, Financial and Compliance Audit is primarily responsible for external audits in Planning and Development, Program...
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