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Peter summarizes annual fraud-risk self-assessment, flags controls and audit review
Summary
At a South Ogden council work session Peter presented the city's annual fraud-risk self-assessment, highlighted separation-of-duties controls and an IT audit, and said staff will ask auditors to review a new online payable system; he reported a preliminary score of 375 out of 395.
Peter presented the city’s annual fraud-risk self-assessment and walked councilors through how the city documents policies and internal controls for procurement and finance. He said the city will include excerpts from policies in the audit submission and asked the external auditors to evaluate the new online payable system to ensure controls are not lost in the move to a more efficient platform.
Peter emphasized the importance of segregation of duties and internal verification, noting the city's small size can require cross-training. “If everyone is going through this at least considers how we’ve rated this, we would be at 375 out of 395 points,” Peter said. He also noted the city has no formal audit committee at present and will work with auditors to confirm the assessment and identify any deficiencies.
Councilors asked clarifying questions about the IT audit and about ongoing checks for front-desk verification of delivered goods. Peter said staff will report back if auditors find issues and will keep the council informed before making procedural changes.
