Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE
NOVEMBER 16, 2022
Subject
SUBJECT: MANAGEMENT AUDIT SERVICES FY 2023 FIRST QUARTER STATUS REPORT
Action
ACTION: RECEIVE AND FILE
Heading
RECOMMENDATION
Title
RECEIVE AND FILE the Management Audit Services (MAS) FY 2023 first quarter status 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 are in progress, including information related to audit follow-up activities. This report covers the period July 1, 2022 through September 30, 2022.
Background
BACKGROUND
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, Operations, Program Management, Safety Office, Planning and Development, including other Metro departments. Contract, Financial and Compliance Audit is primarily responsible for external audits in Planning and Development, Program Management, and Strategic Financial Management Office. MAS' functional units assure the public that internal processes and programs are being managed efficiently, effectively, economically, ethically, and equitably; and that desired outcomes are achieved. This assurance is provided by MAS' functional units cond...
Click here for full text