The Division's Annual Business and Audit Plan
The County of Yolo’s Department of Financial Services (Department), Division of Internal Audit (Division) Business Plan for the period of July 1, 2018 through June 30, 2019 is prepared and presented to the Chief Financial Officer of the Department of Financial Services, and submitted for comments and discussion with the members of the Financial Oversight Committee, for the purpose of defining the Division’s vision, mission, values and strategies for the period which is designed to work in concert with the County and the Department’s values, goals, and tactical plans, and fosters a successful implementation.
The Division of Internal Audit’s audit plan includes both business plan goals for the division and countywide risk based engagements. The audit plan is a planning document consisting of audits, reviews, or other engagements that are performed by the auditors to help ensure accountably or meet oversight requirements on behalf of the county. Unlike the Division’s work plan, the planned engagements can be billable or unbillable. Billable engagement can bring in much needed revenue and help recover county internal audit cost. Internal auditing is the first line of defense against external audits performed by State and Federal auditors and can help prevent and detect issues prior to external findings that can result in a negative fiscal impact. Billing for all engagement by hours of engagement can bring additional revenue to support and provide additional audit resources that would help the county ensure more accountability, effectiveness and efficiencies around departments and local government programs, while supporting a proactive attitude and a more responsible government. However, the division requested and was denied additional staffing for the last three fiscal years.
Performance Measures for Fiscal Year 2018-19
The Internal Audit Division’s performance measures for FY 2018-19 are aligned with the Department of Financial Services performance measures. There are additional divisional performance measures that help the division measure our professional auditing standards and other professional development goals. The FY18-19 measures are as follow:
1. Billable vs. Non-Billable Audit Hours - Quantity is being measured.
2. Budgeted vs. Actual Audit Hours by Engagement - Outcome is being measured.
3. Percentage of Divisional Goals Achieved - Outcome is being measured.
4. Percentage of Planned Projects vs. Actual Projects Completed - Outcome is being measured.
The Division's Internal and External Professional Standards Review
In accordance with professional auditing standards, the Division of Internal Audit adheres to professional auditing standards including AICPA Generally Accepted Auditing Standards (GAAS), International Standards for the Professional Practice of Internal Auditing and Generally Accepted Government Auditing Standards (GAGAS), in addition to other governing guidelines or criteria that may be applicable. The Division follows the highest authority of standards in regards to peer review requirements. These standards require that the division's audit manager perform an annual self assessment to ensure compliance, and that an external review is performed by a qualified Certified Public Accountant. In efforts to save public funding the County participates in a Statewide County Peer Review Program whereby other counties staff and audit manager perform the County's Review and vis versa. The Reports for FY17-18 self-assessment, and the external Peer Review Report performed by Napa County is available by clicking the links below