Internal Audit

Operating


Internal Audit

What we do

In this department, we perform assurance and consulting engagements based on the Council-approved risk-based audit plan.

The assurance services we do include, but not limited to, compliance, operational, financial, forensic, technology, value for money and internal control audits. We also provide consulting services related to internal controls, governance and risk management as requested by management to assist in areas such as the implementation of a new or revised internal process or system changes.

In addition, we conduct or provide support for special investigations, deliver practical and actionable recommendations to City senior management and the Audit Committee, provide follow-up reports to the Audit Committee on the status of implemented audit recommendations, and advise management on conducting risk assessments.

Why we do it

The City’s Internal Audit department exists to provide independent and objective assurance and consulting services designed to add value to help enhance the operations of the City. We assist the corporation in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the organization’s governance, risk management and internal controls.

2021 to 2024+ initiatives

  • Continue to support Council and senior management by providing objective assurance and insight on the effectiveness and efficiency of governance, risk management and internal control processes.
  • Perform audit projects included in the work plan as approved by Council.
  • Continue to evaluate and implement audit plan changes for 2021 to 2023 because of the Covid-19 risk landscape changes.
  • Develop a framework for performing and resourcing larger scale audit projects to evaluate the objectives and action plans outlined in the City’s Strategic Plan.
  • Develop a methodology and pilot project for using advanced financial analytics as part of a continuous monitoring audit process.

Budget details

Operating budget—Revenues and expenses

2021 budget changes explanation

No notable changes

2022 to 2024 budget changes explanation

No notable changes