City Auditor's Office approach
The City Auditor’s Office (CAO) strives to provide the highest level of independent and objective assurance, advisory and investigative services within the Council approved budget.
The CAO provides value to Council and senior management through objective assurance and insight on the effectiveness and efficiency of governance, risk management and internal control processes. In turn this assurance helps The City achieve its strategic, operational, financial, and compliance objectives. Overall, the audit and advisory work provided by the CAO acts as a catalyst for improving an organization’s effectiveness and efficiency by providing insight and recommendations on risk management effectiveness.
The CAO Charter requires the City Auditor to prepare annually a risk based Annual Audit Plan for approval by Audit Committee and for information to Council. The CAO Charter is aligned with The International Standards for the Professional Practice of Internal Auditing which require the establishment of a risk-based plan to determine the priorities of the internal audit activity, consistent with the organization’s goals.
The annual plan development process, which utilizes a risk based methodology is a critical deliverable provided by the CAO to ensure audit resources are directed to the most significant areas of The City.