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Internal audit procure-to-pay review nears completion; management comments due soon
Summary
The subcommittee and staff reported that fieldwork and testing for a CLA procure-to-pay review are complete; town and school management expect to submit formal comments within one to two weeks, after which a draft report will be available to the audit committee.
The audit committee received an update Sept. 24 on an internal-audit project: a procure-to-pay review performed by CLA. Bill, chair of the audit subcommittee, summarized the engagement and said CLA completed fieldwork and testing and produced a draft for which the town and school must provide management comments. "Field work is done. Testing is done," Bill said. Town staff confirmed they had received a near-final draft and expected to provide management comments in the next week or two; one town official said the end of next week was a realistic target. After management comments are submitted, the report will move toward a draft that the audit subcommittee will review, then the full committee. Committee members said the project had taken longer than initially expected but acknowledged the thoroughness of CLA's work. No formal action was taken; the subcommittee will schedule a meeting to review the auditor's draft once management responses are complete.
