Risk Assessment and Workplan
Selection of audit projects is one of the most important responsibilities of the City Auditor. Careful consideration is given to prioritizing audit subjects so that audit resources allocated efficiently and effectively. The Palo Alto Municipal Code (section 2.08.130) requires the City Auditor prepare and submit an annual audit plan to the City Council for review and approval. The audit plan is normally submitted to the City Council at the beginning of the fiscal year.
We solicit suggestions for audit topics from the City Council, the City Manager, City Attorney, residents, and staff. We welcome your suggestions for audits. Please contact us at firstname.lastname@example.org or call us at (650) 329-2667.
The Office also uses a risk assessment model to target additional priority audit areas. The model compares eleven factors for each budgeted City program or revenue source including proposed expenditures, estimated revenues, number of staff, audit requests, and date of last audit. The model scores each factor, weights the factors for relative importance, and calculates a weighted score for each item. The items with the highest weighted scores are considered for inclusion in the City Auditor’s Annual Audit Workplan.
The Annual Audit Plan may be amended during the year with City Council approval.
Quarterly Status Reports: During the year, the City Auditor meets periodically with the ad hoc Audit Committee to ensure that audit progress is communicated to the Council. The Municipal Code requires that the City Auditor issue quarterly reports to the City Council describing the status and progress towards completing the audits on the annual audit plan. For more information see Audit Reports.
- Annual Audit Work Plans