Internal audit adds value by providing independent and objective assurance to Council’s Audit Committee, senior management and staff that the City of Guelph’s internal controls are adequate to mitigate risks, governance and risk management processes are effective and efficient and the City’s goals and strategic objectives are met.
Internal audit annual work plan is developed focusing on key areas which are reflective of the City of Guelph’s objectives and priorities, integrated and co-ordinated with the corporate risk assessment performed by Internal Audit and the Corporate Administrative Plan.
The Internal Audit Charter is a formal document that outlines the purpose, authority and responsibilities of the internal audit activity and defines the nature of assurance and consulting services provided. The Charter is updated when required and is approved by Council.
Internal audit reports administratively to the Chief Administrative Officer and functionally to the Audit Committee of Council.
Internal audit’s relationship to the Audit Committee is outlined within the Audit Committee Terms of Reference.
Internal audit services
Provides insight and objective and independent assurance to the Audit Committee, Senior Management and Staff that the City of Guelph’s internal controls are adequate to mitigate risks, governance and risk management processes are effective and efficient and the City’s goals and strategic objectives are met.
Assist City departments in meeting their goals and objectives by:
- Working alongside staff and providing independent and objective control advice on new initiatives, new or revised processes or implementation of an upgrade or new system.
- Offering education and/or training to employees on internal controls/best practices in order to mitigate risk.
- Participate on various corporate and departmental committees as an advisor.
A review of previously agreed upon recommendations by management to ensure they have been implemented effectively.
Conduct investigations if needed.