RES 487 Draft 01 2004-2006 - Laserfiche WebLink

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WHEREAS, pursuant to Rule 22 number 2 (d) as stated above, the Council finds that an audit schedule for the Legislative Auditor's Office is warranted; and WHEREAS, an audit schedule would provide a framework for the Legislative Auditor's Office to plan their audits of the various departments and activities of the County; and WHEREAS, an audit schedule would help to ensure timely and regulazly scheduled audits on a rotational basis developed from a risk assessment analysis; and WHEREAS, an audit schedule would be developed after the risk levels for each department are assessed through a matrix of specific criteria established by the Legislative Auditor's Office; and WHEREAS, the criteria for assessing the risk levels in the development of a matrix would include but not be limited to, relevant factors such as: • external auditor's findings and recommendations, • departmental staff size, • departmental fund type, • proposed, actual and prior yeazs departmental budgets (revenues and expenditures), and • departmental divisions and programs; and WHEREAS, an audit schedule would permit the Legislative Auditor's Office to plan and prepaze for each audit which could wazrant contracting with an external auditor, specialist, individual or firm with expertise specific to the audit scope; and WHEREAS, an audit schedule will be used as a planning and scheduling tool by the Legislative Auditor's Office and is understood that it will be dynamic and flexible, allowing for adjustments as necessary due to material changes in the risk assessment or direct audit requests from County Departments, the Mayor, Legislative Auditor or the County Council by Resolution. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that it approves the development of an audit schedule based on a risk assessment analysis by the Legislative Auditor's Office to aid the office in the efficient allocation of its audit resources. BE IT FURTHER RESOLVED that the Legislative Auditor's Office may initiate further examination into concerns that may arise during the course of each scheduled audit review beyond the scope and objectives adopted by the audit schedule, departmental requests or a Council resolution. BE IT FURTHER RESOLVED that upon completion, the audit schedule shall be transmitted to the Council and the Mayor.