Volume 1, Issue 2 Internal Audit Awareness Month May was Internal Audit Awareness Month – a month dedicated to highlighting the value an internal audit function brings to organizations and the public around the country and the world. OCPS has a dedicated team of professional internal auditors who embrace their roles and work tirelessly to help the district and its management achieve their goals. They are proud to assist the School Board, Superintendent and management by providing independent, objective assurance services that add value and enhance the district’s performance, accountability and transparency. The School Board proclaimed May as Internal Audit Awareness Month in recognition and appreciation of all internal auditors and their work in evaluating risks and opportunities, ensuring efficiency and effectiveness, and promoting fraud awareness and strong internal controls.
Audit Advisory Committee Did you know OCPS has an audit committee? We do! They oversee our internal audit department on behalf of the School Board. These five highlyqualified persons are appointed by the School Board and volunteer their time to perform this important job. They operate under a School Boardapproved charter that describes their responsibilities, some of which include approving the annual audit plan, monitoring management’s progress in addressing audit findings and conducting the School Board Internal Auditor’s annual performance assessment. To learn more, check out their page on our website at this link Audit Advisory Committee.
Approving invoices: beyond the price
Internal Control
Agreements with vendors often include requirements beyond pricing. Before approving invoices for payment, read your contract/ agreement and consider whether: There may be other deliverables such as manuals, reports, etc.. Have we received them and are they acceptable? Add-ons to items in the bid may be priced at discounts from a “list” price. Do you know where the list price came from? Have you verified its authenticity? Items may be priced with a mark-up over vendor cost. Have you verified that cost by reviewing valid evidence of that cost (for example, an actual invoice paid by the vendor for the item)? Be sure all vendor performance requirements are met before approving payment!
Internal Audit Mission Internal.Audit@ocps.net
We provide independent, objective assurance that adds value and enhances the district’s performance,accountability, and transparency.