Item - 2013.AU13.4

The purpose of this report is to provide City Council with details of the Auditor General’s 2014 Audit Work Plan.  The 2014 Audit Work Plan is attached as Appendix 1 to this report.  Appendix 2 includes a summary of future potential audits.  Appendix 3 includes audits completed during the period 2009 to 2013. 

The 2014 Audit Work Plan as presented in this report provides City Council with an overview of how resources allocated to the Auditor General’s Office will be used during 2014.

The 2014 Audit Work Plan is a combination of audits in progress, new audit projects, annual recurring projects and investigative work carried out as a result of complaints received through the Fraud and Waste Hotline.  The Audit Work Plan also includes a formal follow-up review to ensure recommendations contained in previously issued audit and investigative reports have been implemented.  In addition, the Auditor General will be conducting a risk assessment of City operations and those major Agencies and Corporations within his mandate.  A risk assessment is conducted every five years to evaluate all areas of the City from an audit risk perspective and to prioritize potential audit projects.  The results of this process will be shared with the City Manager in order to ensure that the Internal Audit Division is aware of the specific audit risks identified by the Auditor General.

The 2014 Audit Work Plan provides a balance of audit work that will result in improving overall City operations by identifying potential risks, strengthening management controls, improving accountability and enhancing the efficiency and effectiveness of City services.