Internal Audit

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What is Internal Auditing?

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. The function helps an organization to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance practices.

Mission Statement

Internal Audit’s mission is to serve the citizens of Guilford County by providing consulting and audit services that help county government reduce risk with proper internal controls and promote accountability through efficient and effective use of resources.

Reporting Status

The Internal Audit Department reports directly to the County Manager. This enhances the department’s ability to operate independently and without bias in regard to County activities. The department conducts its work in accordance with the International Standards for the Professional Practice of Internal Auditing, a part of the Professional Practices Framework promulgated by the Institute of Internal Auditors.

Staff

The Internal Audit Department consists of one director and four full-time auditors. Staff members have an average of 15 years’ experience in auditing and accounting in the public and private sectors. Experience includes banking, information services, healthcare, finance and local government auditing and accounting.  Staff members have Bachelor’s Degrees in Accounting, Business and Political Science; and Master’s Degrees in Public Affairs and Accounting. Professional certifications of staff members include Certified Public Accountant (CPA), Certified Internal Auditor (CIA) and North Carolina Certified Local Government Finance Officer (NCCLGFO).

The experience of the staff enables the accomplishment of a wide variety of tasks. Services offered include operational/performance audits, administrative reviews, fraud investigations, compliance audits and consultative services.

How does Internal Audit improve Guilford County’s efficiency & effectiveness?

• Evaluates compliance with State & Federal regulations
• Evaluates compliance with Guilford County policies & procedures
• Evaluates the efficiency and effectiveness of operations
• Documents and tests internal controls
• Maintains the Fraud, Waste & Abuse Hotline
• Conducts fraud investigations
• Identifies revenue enhancement opportunities
• Identifies areas for cost avoidance
• Identifies process improvements
• Ensures asset & expenditure accountability
• Ensures data security and reliability
• Promotes efficiency through technology
• Advises on Performance Measurement
• Assists with the annual external financial audit and compliance audit (Single Audit)

Internal Control

The department focuses on internal control.

• Strategic – Does the department have a Strategic Plan that outlines business objectives?

Are the employees aware of the goals and objectives and how their jobs fit into the Plan?

Does the department measure and monitor performance targets?

• Operational – Does the department monitor the costs and productivity of operations?

Does the department monitor for duplication, streamlining, efficiencies and avoidance of unnecessary costs?

• Compliance – Does the department monitor to ensure compliance with

Federal and State Regulations?

Guilford County Policies and Procedures?

Federal and State Grant Requirements?

• Financial – Are departments accountable for financial resources and county assets?

Do departments ensure data integrity of financial information?