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ARCHIVED - Horizontal Internal Audit of High Risk Expenditure Controls in Large Departments and Agencies
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Conclusion
Overall, the processes in place to identify high-risk transactions for account verification are not satisfactory. Most large departments and agencies (LDAs) are applying 100% verification on all transactions, that is, treating them all as high risk, when appropriate risk management strategies would result in more efficient practices. Furthermore, they do not have an appropriate governance process over risk identification or provide guidance on the verification work required of account verification officers. These practices result in an inefficient use of the time of account verification clerks and of those providing quality assurance.
Management Action Plans
The findings and recommendations of this audit were presented to each department and agency included in the scope of the audit. The audit results and recommendations encountered positive reactions from responsible officials within LDAs. The Internal Audit Sector of the Office of the Comptroller General has asked chief audit executives to prepare detailed action plans and to have these plans endorsed by their department and agency audit committees. There were good indications that improvements would be pursued. The department and agency audit committees will periodically receive reports from management on the actions taken where Management Action Plans are in place.
Deputy heads of LDAs not included in the scope of this audit will take into account the results of this horizontal internal audit and develop Management Action Plans as necessary. They may also choose to brief their department and agency audit committees on this audit.
Furthermore, the Office of the Comptroller General will facilitate the dissemination of information related to audit findings including sharing of best practices and training as requested.
