Internal audit reports
Internal audit is an independent and objective assurance function which helps promote the City's efficiency, effectiveness, and accountability.
The audit process establishes and maintains a practical internal control system to achieve business objectives and manage risk exposures. An independent audit function is essential to government accountability.
How the City's internal audit process works
At the City of Vancouver, a team of five certified internal audit professionals is dedicated to completing a variety of audits focused on effectiveness, efficiency, and economy.
To ensure independence and objectivity, the internal audit division reports to the internal audit management team consisting of the city manager, deputy city manager, director of finance, and director of legal services. Their goal is to facilitate management in establishing a practical level of internal controls to meet business objectives.
Types of internal audits
The City conducts internal audits and consulting work in a number of areas:
- Financial audit - Assurance that financial statements are presented fairly in accordance with the financial reporting framework
- Performance audit - An examination of the efficiency and effectiveness of programs
- Advisory Services – Provides assistance to City departments on policies, procedures and internal control issues
Internal audit schedule
In January and July of each year, follow-up of open audit recommendations are conducted for all audit reports issued. The objective is to determine the extent to which audit recommendations have been implemented and whether any significant internal control weaknesses remain outstanding.
