Illinois Toll Highway internal audit reports 2024 results, outlines 2025 enterprise risk management plans

Sean Farmer, chief of internal audit for the Toll Highway Authority, told the Finance & Audit Committee that internal audit completed its planned cycle audits for 2024 and is tracking remediation of open findings while expanding enterprise risk management work for 2025.

The presentation, delivered during the committee meeting, summarized the audit charter, the department’s 2024 activities and the 2025 audit plan. Farmer said internal audit “provides ongoing objective and independent reviews on internal controls” and noted the audit charter was updated in December 2024 to reflect new Institute of Internal Auditors standards effective January 2025. “Internal audit derives its authority from the state’s fiscal control and internal auditing act,” Farmer said.

The nut of the presentation was that internal audit met its 2024…