Independent audit firm finds 631 governmental risks; council weighs shift to risk-based audit program
Consultants from Malden & Jenkins told Columbus city council an initial enterprise risk assessment identified 631 specific risks and 92 auditable entities, urging the city's internal audit function to shift from investigations toward a risk-based approach and annual plan; council members asked for more transparency, dashboards and staff alignment.
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An independent risk assessment presented to Columbus’ city council on Oct. 14 concluded the city government faces hundreds of discrete operational, financial and legal risks and recommended a shift in internal audit focus from reactive investigations to annual, risk-based auditing.
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