Agenda Item   

AGENDA STAFF REPORT

 

                                                                                                                        ASR Control  14-000017

 

MEETING DATE:

01/28/14

legal entity taking action:

Board of Supervisors

board of supervisors district(s):

All Districts

SUBMITTING Agency/Department:

Auditor-Controller   (Approved)

Department contact person(s):

Jan Grimes (714) 834-2457 

 

 

Nancy Ishida (714) 796-8067

 

 

Subject:  Auditor-Controller Internal Audit Quarterly Status Report-Oct 2013 thru Dec 2013

 

      ceo Concur

County Counsel Review

Clerk of the Board

Concur

N/A

Consent Calendar

 

 

3 Votes Board Majority

 

 

 

    Budgeted: N/A

Current Year Cost: N/A

Annual Cost: N/A

 

 

 

    Staffing Impact: No

# of Positions:

Sole Source: N/A

    Current Fiscal Year Revenue: N/A

  Funding Source: N/A

County Audit in last 3 years No

 

Year of Audit

    Prior Board Action: N/A

 

RECOMMENDED ACTION(S):

 

Receive and file the Auditor-Controller Internal Audit Quarterly Status Report for the period October 2013 through December 2013.

 

 

 

 

SUMMARY:

 

At the request of the Audit Oversight Committee, the Auditor-Controller’s Office is presenting a quarterly summary of the A-C Internal Audit Unit’s mandated internal audit activity for the months of October 2013 through December 2013.  Two items are presented for the months of October 2013 through December 2013.  This information is provided to inform the Board of Supervisors of the on-going progress of the County Auditor’s legally state-mandated audits of the County Treasury and Probation Departments pursuant to California Government Code Section 26920 and Welfare and Institutions Code Section 275, respectively.  The Probation Audit is a biennial audit and there was no Probation Audit Report issued this quarter.  In addition, the Auditor-Controller is providing information on the progress of the compliance continuous auditing of the Treasurer’s investment portfolio which is performed at the request of the Treasury Oversight Committee.

 

This quarterly summary is designed to highlight the purpose and conclusion of the audits.  A brief discussion of the background of the audited area is also provided.  For more information, please refer to the full audit reports attached as Exhibits.

 

 

 

BACKGROUND INFORMATION:

 

The Orange County Auditor has statutory responsibility over the legislatively-mandated audits of the County Treasury and Probation Departments pursuant to California Government Code Section 26920 and Welfare and Institutions Code Section 275, respectively.  In February 2007, the Auditor-Controller Internal Audit (ACIA) Unit was established to perform the mandated audits and reviews.  The ACIA also provides management advisory assistance to the Auditor-Controller’s Office.  The ACIA reports directly to the elected Auditor-Controller.

 

In March 2009, the Treasury Oversight Committee requested that the ACIA provide compliance review services for the Treasurer-Tax Collector’s Office.  The purpose of the compliance engagement is to determine whether the Treasurer’s investment portfolio is in compliance with certain provisions of the Orange County Treasurer Investment Policy Statement.  The compliance review is conducted on a quarterly basis using a judgmentally selected sample of 10 business days from each month.

 

 

 

FINANCIAL IMPACT:

 

N/A

 

STAFFING IMPACT:

 

N/A

 

EXHIBIT(S):

 

Exhibit A – Auditor-Controller Internal Audit Quarterly Status Report October 2013 through December 2013
Exhibit B – Continuous Compliance Auditing of the Treasury Investment Portfolio for the Quarter Ended June 2013, Job No. 1120
Exhibit C – Report on Review of the Statement of Assets Held by the County Treasury as of March 31, 2013, Job No. 1117