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tract <br />Alisk <br />rs ve <br />160151 fe'ry <br />Audit resources are limited, thus <br />prohibiting one hundred percent <br />audit coverage each year. This limiting <br />factor is inherent in the concept of <br />using risk assessments to help <br />prioritize audits. <br />Using a risk-based audit approach to <br />identify and prioritize potential audit <br />topics that pose the greatest potential <br />risk and liability to the County, The <br />Office of the Legislative Auditor <br />considers the following risk factors. <br />�j County Specific r"In <br />Risk Factors <br />I� <br />• Size of Department or <br />Operational Area <br />• <br />Qua <br />Con <br />lity of Known Internal <br />trol System <br />• Age of Program or <br />Operation <br />• Complexity of Transactions <br />• Audit History <br />• Management Accountability <br />• Departmental Requests <br />Other <br />Risk Factors <br />• Compliance and <br />Regulations <br />• Public Sensitivity <br />• Critical <br />Infrastructure <br />• Emerging Risk <br />Areas <br />• Inherent Risk Areas <br />• Public Health and <br />Safety <br />FY 2020-2021 Annual Audit Plan I 05 <br />