Agenda

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Consent-General Government # 16.

Board of Supervisors Meeting

Financial Services

Meeting Date:	07/28/2015
Brief Title: Internal Audit Charter
From:	Howard Newens, Chief Financial Officer, Financial Services
Staff Contact:	Mary Khoshmashrab, Internal Audit Manager, Financial Services, x9210
Supervisorial District Impact:

Subject

Approve an updated Internal Audit Charter. (No general fund impact) (Newens)

Recommended Action

Approve the attached Internal Audit Charter to replace the Audit Charter and Policy Statement adopted on 2/16/1999.

Strategic Plan Goal(s)

Provide fiscally sound, dynamic and responsive services

Reason for Recommended Action/Background

On February 16, 1999, the Board of Supervisors approved an Audit Charter and Policy Statement that defined the role and responsibilities of the audit function in the County. Since then, evolution of the internal audit profession, as well as the recent structural change in the finance function in the County have necessitated a wholesale revision of this governing document.

After extensive research, staff recommends a new proposed charter for the internal audit function (Att A - Internal Audit Charter) that reflects conformance with all applicable standards issued by the Institute of Internal Auditors and the U.S. Government Accountability Office, and that matches the current organization of the finance function in the County.

The charter sets forth the purpose, scope, authority and responsibilities of the internal audit function; the document also explains the relationship between the internal auditors and the Board of Supervisors through its audit sub-committee, as well as the relationship with management and the Financial Oversight Committee.

Collaborations (including Board advisory groups and external partner agencies)

The charter was submitted for review by members of the Financial Oversight Committee and their comments were taken into account in the final draft attached.

Fiscal Impact

Fiscal Impact (Expenditure)
No Fiscal Impact
Total cost of recommended action:		$
Amount budgeted for expenditure:		$
Additional expenditure authority needed:		$
On-going commitment (annual cost):	$

Source of Funds for this Expenditure

Attachments
Att. A. Internal Audit Charter

Form Review

Inbox	Reviewed By	Date
Financial Services	hnewens	07/14/2015 03:54 PM
Form Started By: mkhoshmashrab		Started On: 06/25/2015 01:46 PM
Final Approval Date: 07/15/2015