Audit Plan 2013

Audit Plan for Fiscal Year 2012/2013

Mission: Contribute to the City’s successful achievement of its mission, vision, goals, and objectives by promoting efficiency, effectiveness, economy, and integrity.

Vision: To be a highly respected service organization and a catalyst for positive change.

GOALS AND OBJECTIVES

Goal 

Perform audits and provide other services to help the City achieve the highest effectiveness and efficiency with integrity

Organizational Objectives

• Promote adequate systems of internal control
• Improve operational efficiency and effectiveness
• Advance contract compliance and fiscal responsibility
• Optimize value received from City resources
• Increase awareness and understanding of emerging issues

Functional Objectives

• Expand staff knowledge, skills, and abilities
• Stay current on issues and trends affecting governments
• Increase audit effectiveness
• Provide customer valued audit and consulting services
• Meet government auditing standards

Staff and Available Audit Hours

We based the proposed audit plan on current staffing, consisting of two full-time audit professionals. Reflected below are estimated available audit hours after adjustments for anticipated annual and other leave.

Audit Staff Time Annual Hours %
     Senior Internal Auditor 2,080
     Staff Internal Auditor 2,080
Total Annual Hours 4,160 100%
Estimated Leave
Vacation Leave 272
Sick Leave 144
Other Leave 40
Holidays 176
Furlough 80
Total Leave Hours 712 17%
Available Audit Hours 3,448 83%

Planned Audits and Projects

During Fiscal Year 2012/13, one of the primary objectives will be to implement an effective continuous auditing program. The goal is to increase efficiency by auditing more areas and reviewing higher volumes of data while using fewer resources. We plan to complete a detailed and comprehensive continuous auditing program during the last quarter of FY 2011/12.

A portion of the time allocated to continuous auditing will involve the use of data analytics to automate and facilitate more efficient internal audit processes, thereby helping identify and manage risks more promptly, effectively and efficiently. In order to accomplish this, audit staff will need to work with unfamiliar software and develop an understanding of the most efficient ways to obtain and work with needed data.

Below is the proposed distribution of audit hours for FY 2012/13.

Distribution of Available Audit Hours Annual Hours %
      Audits, Reviews and Projects 2,410 70%
Continuous Auditing 800
Internal Control Evaluation & Documentation 400
Risk Related Activities 200
Purchasing Card 250
Special Requests for Audits and Reviews 400
Follow-Up on Audit Findings 80
Preparation of Annual Report 40
Research and Assistance to City Commission 190
Coordination with External Auditors 50
      Administration, Meetings, Training and Other Activities 1,038 30%
Administration 750
Meetings 50
Training 120
Preparation and Coordination for Internal Peer Review 40
Conduct Reciprocal Peer Review 40
Auditing Standards Review and Updates 38
Available Audit Hours 3,448 100%