Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Report topic
No spam. Unsubscribe anytime.
Council auditor: all findings cleared in city wire-transfer follow-up audit
Summary
The council auditor reported that all nine issues identified in a prior audit of outgoing wire transfers have been addressed and the follow-up is complete.
The council auditor's office told the Finance Committee that its third and final follow-up on the city wire-transfer program has cleared all previously identified issues.
Brian Parks, representing the council auditor's office, said the original audit examined whether outgoing wire transfers were accurate, properly authorized and adequately documented and that the transfers pose high risk because of large dollar amounts. "All nine issues that we identified in the original report have now been addressed as of this report," Parks said.
The audit covered controls around large transfers, such as the $26 million payment to the state for the Shands payment that the auditor cited as an example of the magnitude of transfers under review. The auditor's follow-up report concludes the previously identified weaknesses were remediated and no further action was necessary at this time.
The committee received the report; no action was required. The auditor's office recommended continued monitoring of wire-transfer controls as large single transfers remain high risk if processes drift.
Provenance: council auditor presentation and committee acknowledgment in the Oct. 21 meeting transcript.
