Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Advisory Committee topic
No spam. Unsubscribe anytime.
City auditor: advisory audit committee review complete for 2022-23 reports; 2024 audit underway
Summary
City Auditor John Rovalski told the finance committee the advisory audit committee reviewed the 2022 and 2023 audit reports with no new exceptions; investment review for six months ending June 2024 had no new exceptions and the 2024 audit fieldwork is imminent.
City Auditor John Rovalski reported that the advisory audit committee met in February to review the annual financial-statement process and that members reviewed the 2022 and 2023 audit reports without identifying notable exceptions.
Rovalski said he released the investment review for the six months ending June 2024 and found "no new exceptions or notes related to that." He also said he is working on surveys for a performance-measure audit and will prepare a revised 2025 annual internal audit plan.
Responding to the committee, Rovalski said the external audit for 2024 will be performed by Clark, Schaefer & Hackett, assisted by a preparatory firm identified in the meeting as Julian and Gruen. He told the committee he expects the auditors to be on-site in a few weeks for fieldwork.
Chairman Serrantu thanked the auditor for the update; the committee had no further questions. No formal committee actions were taken on audit matters at the meeting.
Clarifying details: advisory audit committee met in February and reviewed 2022 and 2023 audit reports; the six-month investment review ending June 2024 had no new exceptions; Clark, Schaefer & Hackett will conduct the 2024 audit with assistance from Julian and Gruen; Rovalski is preparing a revised 2025 internal audit plan.
Ending: The auditor will return with audit progress and the revised internal audit plan when available.
