Minneapolis Audit Committee Agenda
January 25, 2012
9:30 a.m. - Room 317 City Hall
NOTE: All cellular telephones, pagers and BlackBerry devices to be switched to a non-audible function during Council and Committee meetings.
Committee Members Present: Council Members Diane Hofstede, Barbara Johnson, Betsy Hodges; Minneapolis Park & Recreation Board Representative Mark Oyaas; Citizen Member Stephanie Woodruff (quorum 4)
Committee Members Absent: Citizen Member Darrell Ellsworth
Council Committee Coordinator: Irene Kasper (612) 673-2219 [email protected]
1. Adopt Agenda.
Action Taken: Adopted.
2. Accept Minutes of the Regular Meeting of December 7, 2011.
Staff Report: Audit Minutes 20111207
Action Taken: Accepted.
Report of Internal Auditor
3. Update on audit activities:
Risk Assessment and Two-Year Internal Audit Plan (2012-2013) (Action Taken 12/7/2011: IA directed to report back at next meeting with proposed Two-Year IA Plan in lieu of Three-Year IA Plan).
Staff Report: IA Plan 2012-2013
Action Taken: a) Approved 2012 Audit Plan for Auditable Unit CPED/Development Finance (Development Loans Review) and Public Works (Fleet Management);
b) Requested staff to include the listing of 2011 carry-over projects in the 2012 Audit Plan;
c) Directed Internal Auditor: 1) to meet with Finance and BIS staff to determine prioritization of the Auditable Unit reviews for the Finance Department (General Ledger Accounting; Internal Controls over Financial Reporting; and Accounts Payable Review) and BIS (Application Security) as well as determine which can be handled within the department's capacity; 2) to report back with information from the Department of Public Works as to moving the proposed 2013 Audit Plan review for Excel Energy, Inc Franchise Agreement into the 2012 Audit Plan; 3) that for any department on the proposed 2012 Audit Plan for review, create an assessment of the staff hours within the department necessary to conduct the audits;
d) Deleted the external risk factor "airport noise" from the risk profile within the Risk Assessment & Two-Year Internal Audit Plan.
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Last updated Jan 25, 2012