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METHODOLOGY
Final Report Page 14
North Carolina Internal Audit Program
recommendations for North Carolina state government. To the extent that
the team believed the input substantially affected the recommendation,
the team revised the recommendation to respond to the issue.
Once the recommendations were finalized, the team developed an
Implementation Plan that identified ( 1) what activities need to be
undertaken, ( 2) the lead organization responsible for the activities, ( 3) the
priorities of implementing the activities, and ( 4) the approximate cost of
implementing the recommendations.
GUIDING ASSUMPTIONS
In developing the recommendations in this report, the MGT team made
several assumptions based on discussions with General Assembly
members and staff. These assumptions were made to recognize and
incorporate the General Assembly’s intent and vision into the internal
audit function and plan. These assumptions are as follows:
All state agencies need to perform some level of internal auditing.
Internal auditing should not duplicate work performed by others.
Internal auditing needs to encompass the entire spectrum of
internal audit activities and cannot focus solely on financial or
compliance audits.
The internal audit program shall be based on industry best
practices to the greatest degree possible.
These key assumptions were kept in the forefront as the MGT team
developed the recommendations within this report. The rationale for
making these assumptions reflects a commitment by the General
Assembly and GPAC II to find ways for state agencies to make
improvements and become more efficient and effective in providing state
services, which in turn reflects the General Assembly’s commitment to the
public it serves and represents.
The emphasis on having all state agencies, large and small, perform at
least some level of internal auditing, comes from the recognition by
General Assembly members that internal auditing is a valuable resource
for state agencies. Limiting this resource to only larger state agencies
minimizes the benefit of these services. This is key because many of the
smaller agencies, in terms of operating expenditures or number of staff,
may in fact be overseeing complex or vital state programs. These
organizations may not meet criteria that would enable them to be audited
under the Single Audit guidelines and requirements, meaning that the
state’s liability for these services increases as inefficiencies are allowed to
continue for long periods of time without being identified and resolved.
The second assumption— that internal auditors should only perform work
prescribed by the professional standards— reflects the State Auditor’s
Object Description
Description
| Title | Final report : establishing an internal audit program in North Carolina's state agencies - Page 16 |
| Full Text | METHODOLOGY Final Report Page 14 North Carolina Internal Audit Program recommendations for North Carolina state government. To the extent that the team believed the input substantially affected the recommendation, the team revised the recommendation to respond to the issue. Once the recommendations were finalized, the team developed an Implementation Plan that identified ( 1) what activities need to be undertaken, ( 2) the lead organization responsible for the activities, ( 3) the priorities of implementing the activities, and ( 4) the approximate cost of implementing the recommendations. GUIDING ASSUMPTIONS In developing the recommendations in this report, the MGT team made several assumptions based on discussions with General Assembly members and staff. These assumptions were made to recognize and incorporate the General Assembly’s intent and vision into the internal audit function and plan. These assumptions are as follows: All state agencies need to perform some level of internal auditing. Internal auditing should not duplicate work performed by others. Internal auditing needs to encompass the entire spectrum of internal audit activities and cannot focus solely on financial or compliance audits. The internal audit program shall be based on industry best practices to the greatest degree possible. These key assumptions were kept in the forefront as the MGT team developed the recommendations within this report. The rationale for making these assumptions reflects a commitment by the General Assembly and GPAC II to find ways for state agencies to make improvements and become more efficient and effective in providing state services, which in turn reflects the General Assembly’s commitment to the public it serves and represents. The emphasis on having all state agencies, large and small, perform at least some level of internal auditing, comes from the recognition by General Assembly members that internal auditing is a valuable resource for state agencies. Limiting this resource to only larger state agencies minimizes the benefit of these services. This is key because many of the smaller agencies, in terms of operating expenditures or number of staff, may in fact be overseeing complex or vital state programs. These organizations may not meet criteria that would enable them to be audited under the Single Audit guidelines and requirements, meaning that the state’s liability for these services increases as inefficiencies are allowed to continue for long periods of time without being identified and resolved. The second assumption— that internal auditors should only perform work prescribed by the professional standards— reflects the State Auditor’s |
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