SUBJECT:
title
Approval of a resolution adopting the FY2022 Internal Audit Services Plan.
titleend
FISCAL IMPACT:
This action has no fiscal impact.
STRATEGIC PLAN:
Strategic Goal Alignment:
☒ 1. Internal/External Customer Service Excellence ☐ 2. Stakeholder Engagement
☒ 3. Financial and Environmental Sustainability ☒ 4. Staff Development ☐ 5. Agency Growth Management
Strategic Objectives:
☒ 1.1 Safety & Risk ☒1.2 Continuous improvement ☐ 1.3 Dynamic Change
☐1.4 Culture of Innovation ☐2.1 Be an Employer of Choice ☐2.2 Organization Development
☐2.3 Organization Culture ☒3.1 Resource optimization ☐3.2 Safety Culture
☐3.3 Environmental Leadership ☐4.1 Educate & Call to Action ☐4.2 Build Partnerships
☒4.3 Value of Transit ☐4.4 Project Connect
EXPLANATION OF STRATEGIC ALIGNMENT: This plan will ensure good stewardship and internal controls for the agency, and supports the Capital Metro Strategic Plan.
BUSINESS CASE: Does not apply.
COMMITTEE RECOMMENDATION:
This agenda item was presented and recommended for approval at the Finance, Audit and Administration Committee meeting on October 13, 2021.
EXECUTIVE SUMMARY: The Institute of Internal Auditor’s International Standards for the Professional Practice of Internal Auditing require risk-based audit plans be developed to determine the priorities of an internal audit activity, consistent with the organization's goals. The proposed FY2022 Internal Audit Plan (the Plan) summarizes the proposed audits and projects that were identified during a comprehensive risk assessment performed by Capital Metro Internal Audit. The Plan presents audit activities in two categories: Assurance Services, and Advisory & Consulting Services. The Capital Metro Internal Audit Charter requires that the Chief Audit Executive “present for approval to the Finance & Audit Committee a risk-based Audit Plan which documents the priorities of the internal audit function and is consistent with the Authority’s strategic goals and objectives.” After FAA consideration, the plan is taken to the full Board for its review and approval.
DBE/SBE PARTICIPATION: Does not apply.
PROCUREMENT: Does not apply.
RESPONSIBLE DEPARTMENT: Internal Audit Department
body
RESOLUTION
OF THE
CAPITAL METROPOLITAN TRANSPORTATION AUTHORITY
BOARD OF DIRECTORS
STATE OF TEXAS
COUNTY OF TRAVIS
AI-2021-222
WHEREAS, the FY2022 Internal Audit Plan considers the potential risks and opportunities of the Authority; and the FY2022 Internal Audit Plan was prepared in accordance with professional internal auditing standards; and
WHEREAS, the FY2022 Internal Audit Plan provides a mix of audit projects to mitigate risks, develop recommendations for improvement and/or cost savings, and monitor the progress toward implementing past recommendations.
NOW, THEREFORE, BE IT RESOLVED by the Capital Metropolitan Transportation Authority Board of Directors that the FY2022 Internal Audit Plan is adopted and sets a program to provide relevant and useful information to the Board of Directors.
____________________ Date: ____________________
Secretary of the Board
Eric Stratton