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1. 2 OVERVIEW BackgroundBackground Why an Annual Plan?Why an Annual Plan? Development MethodologyDevelopment Methodology Results - Key ProjectsResults.

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Presentation on theme: "1. 2 OVERVIEW BackgroundBackground Why an Annual Plan?Why an Annual Plan? Development MethodologyDevelopment Methodology Results - Key ProjectsResults."— Presentation transcript:

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2 2 OVERVIEW BackgroundBackground Why an Annual Plan?Why an Annual Plan? Development MethodologyDevelopment Methodology Results - Key ProjectsResults - Key Projects Anti-Fraud Action PlanAnti-Fraud Action Plan Brief Summary of FY 2007 ActivityBrief Summary of FY 2007 Activity RecommendationRecommendation QuestionsQuestions

3 3 Background Government Accounting Office & IIA Standards require approval of an annual planGovernment Accounting Office & IIA Standards require approval of an annual plan House Bill 1 (79 th Legislature) requires the internal auditor to report to the Board of Trustees and obtain approval for planned projectsHouse Bill 1 (79 th Legislature) requires the internal auditor to report to the Board of Trustees and obtain approval for planned projects

4 4 Why an Annual Plan? StandardsStandards Allows Board to direct/approve audit resourcesAllows Board to direct/approve audit resources Provides framework for assessing audit contributionsProvides framework for assessing audit contributions Gives senior leadership opportunity to request assistance/oversightGives senior leadership opportunity to request assistance/oversight

5 5 Development Methodology Obtain suggested topics from managementObtain suggested topics from management Risk assessmentRisk assessmentassessment –Nine risk factors factors –Considers materiality, potential for fraud, change in resources, change in programs –Attachment 1 to Annual Plan Prioritize workload based on risksPrioritize workload based on risksPrioritize Internal Audit Director may override some priorities based on media/leadership interestsInternal Audit Director may override some priorities based on media/leadership interests Prepare Annual Audit Plan (in packet) for Board approvalPrepare Annual Audit Plan (in packet) for Board approvalPlan

6 6 Risk Assessment Weighted FactorsWeighted Factors –Requested by Supt. –Fraud potential –Materiality –Assoc. Supt. request –Mandated by law –Public scrutiny –Mgmt. controls –Prior coverage –Change in resources Priority topics –Composite total score is ranked –Highest scores earn spot on To Do list –Changes in priorities will be submitted to Board for approval –Fraud or malfeasance may alter plan priorities Risk

7 7 Results – Key Projects Special projectsSpecial projects –Supt. or Board requested reviews –Quick turn-around analyses/studies –Open records data verification work –Concerns received via the Hotline –Spontaneous issues requiring quick response (e.g., missing funds or equipment)

8 8 Key Projects (continued) Review of Supt. contract & expensesReview of Supt. contract & expenses Community Education (operational audit)Community Education (operational audit) Construction contract monitoringConstruction contract monitoring Audit work for external auditors (CAFR)Audit work for external auditors (CAFR) –Cash, payables, inventories

9 9 Key Projects (continued) Campus AuditsCampus Audits –Unannounced visits (cash and inventory verification) –Full campus audits (one high school & one middle school) –Compressed campus audits Condensed scope; when principals and bookkeepers changeCondensed scope; when principals and bookkeepers change

10 10 Key Projects (continued) Annual Review of HEB card programAnnual Review of HEB card program Annual Review of Conflict of Interest disclosure reports from budget managersAnnual Review of Conflict of Interest disclosure reports from budget managers

11 11 Anti-Fraud Action Plan Attachment 3 to the Annual Audit Plan Prepared to provide direction on detecting, reporting and disposition of potentially fraudulent situationsAttachment 3 to the Annual Audit Plan Prepared to provide direction on detecting, reporting and disposition of potentially fraudulent situations –Part I…measures to prevent, deter & detect fraud –Part II…procedures to follow in response to fraud detection The fraud plan complements CAA(Local)The fraud plan complements CAA(Local) CAALOCAL.htm Fraud

12 12 Recap of FY 2007 Activity Operational AuditsOperational Audits –Supplemental Pay –Textbook Inventory Management –Selected Aspects of Police Department Operations –Vehicle use & Replacement –CRMS Unannounced Campus Audits (23)Unannounced Campus Audits (23) Recap

13 13 Recap of FY 2007 Activity Special ProjectsSpecial Projects –Wage rate update for new construction contracts –5 campus advisory services –Accounting for ISA field trips –District wide review of credit card usage Campus Audits (1-MS; 1-ES)Campus Audits (1-MS; 1-ES) Hotline follow-up (13 concerns)Hotline follow-up (13 concerns) Recap

14 14 Recommendation Approve the 2007 – 2008 Annual Audit Plan, including the Anti-Fraud Action planApprove the 2007 – 2008 Annual Audit Plan, including the Anti-Fraud Action plan

15 15 Questions? EFFICIENCY is our focus QUALITY is our goal


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