The Treasurer’s Office launched a new internal audit activity in June of 2018 to assist the agency in making sure it is protecting assets effectively and efficiently. The internal audit activity is responsible for performing audits that focus on ensuring internal controls are in place and working as intended as well as ensuring compliance with applicable statues, regulations, and policies.
In her new role as the Internal Auditor, she will not only develop an annual audit plan using a risk-based approach but she will also be responsible for serving as the Office’s liaison and coordinating annual audits with external auditors, such as the State Auditor’s Office.
What is an internal control?
An internal control is defined as “a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance”.