The City of Palo Alto Office of the City Auditor has been awarded the 2013 Silver Knighton Award in the small audit shop category by the Association of Local Government Auditors (ALGA). The Knighton Award recognizes the best performance audit reports each year. The City will be formally presented with the award at ALGA's annual conference in Tampa, FL, on May 5, 2014.
The award recognizes the City's Inventory Management Audit report that determined if City controls were adequate to ensure inventory records were accurate and complete, accountability for inventory transactions, and that inventory was safeguarded. The audit found that management policies and procedures, and physical security could be improved for the City’s inventory. City auditors also found inventory records were inaccurate; improved accountability for transactions was needed; and warehouses contained significant quantities of unused or infrequently used inventory.
The full press release can be viewed here.