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External auditors present top‑10 risks; board selects procurement and instructional materials audits to start
Summary
RSM presented a proposed top‑10 internal‑audit risk list to the Lake County School Board. After discussion the board indicated it will begin with competitive procurement and an instructional‑materials review; RSM will return a scope, price and schedule for the selected audits.
Consultants from RSM presented a proposed “top‑10” list of high‑risk audit areas and described the firm’s risk‑assessment approach. Weiss Campbell (manager) and Ava Doraisamy (manager) said the list was compiled from 18 stakeholder interviews, review of board materials and professional standards (COSO and internal‑audit guidance).
“The first step is identifying and measuring risk,” Weiss Campbell told the board. RSM explained it evaluates inherent risk, likelihood and prior audit exposure to prioritize areas for audit planning. The firm’s top‑10 candidates (in alphabetical order) included competitive procurement, contract compliance, cybersecurity maturity,…
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