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Internal auditors RSM outline half-cent SERTax design assessment, plan to return with results in June
Summary
RSM managers Michelle Copela and Jack Hughes told the committee they will perform a design assessment of SERTax internal controls, document processes, benchmark practices, test reporting mechanisms and present written results to the board and committee around June.
Michelle Copela, manager with RSM's government services team, and supervisor Jack Hughes told the committee the firm has been retained to perform a half-cent SERTax design assessment as part of the FY25 internal audit plan. Copela said the team has kicked off the engagement and will return with audit findings and recommendations around the June timeframe.
"We do report independently to the school board... we have been approved in order to perform a halfsent sales tax review and really just had our kickoff here recently and wanted to to come before you guys give you an idea of what kind of objectives and approach that we're performing," Copela said. Jack Hughes described the audit approach: document and understand existing processes, benchmark against best practices, assess controls over recording and reporting, and perform substantive procedures where appropriate.
RSM said ensuing deliverables will include a written report and a structured exit process in which management responses and remediation plans will be recorded; RSM plans subsequent follow-up procedures after agreed timelines expire. The presenters indicated the audit includes interviews with key process owners and that the audit will be shared with the board first, then returned to the committee for review.
