Selecting performance audits to conduct is like building a successful investment portfolio. Developing meaningful objectives helps ensure each audit efficiently and effectively achieves meaningful results. Together, selecting the right audits and clear objectives provide a return on investment that is highly valued, relevant and meaningful to the stakeholders it serves. Explore techniques and factors for selecting and planning audits based upon measurable factors of risk, materiality, public interest, and public benefit as valued by its many stakeholders. You will identify stakeholder interest and needs, future opportunities and external threats; apply a cost benefit approach using measures of outcome value to score proposals; and formulate compelling audit objectives leading to meaningful specific future-oriented recommendations of value.
Urgent questions and concerns require quick audit response while maintaining quality, focusing on user needs, and conforming to the Government Auditing Standards. Determine when it is appropriate and how to offer clients alternatives to classic “full scope” audit coverage, and how to establish an auditor-client relationship conducive to quick delivery of products. Learn how to tailor audit objectives, approaches and products to better meet immediate client needs. Drawing on multiple case studies, learn to write focused objectives with limited scope to facilitate quick field work, timely reporting, and meaningful results to satisfy the client or stakeholder needs.
Audit resolution, follow-up, implementation, and reporting is a responsibility shared by the audit organization, the auditee organization follow-up coordinator and action officials. This responsibility is described in a variety of laws and OMB Circulars to provide a basis for accountability of the audited entities in responding to audit recommendations, reaching resolution and implementing the agreed upon corrective actions to reduce the risk of loss, improve operational performance and financial integrity in all levels of government.
This course will explore the statutes, guidance and standards for audit recommendations, resolution, follow-up progress, monitoring and reporting. It will also define the roles and responsibilities of the audit organization and those designated to perform follow-up, implementation and congressional reporting and budget submission functions.
This course is part of the Master Certificate in Federal Financial Management
The Infrastructure Investment and Jobs Act (IIJA) provides $1.2 trillion in federal spending over the next five years mostly in grants and contracts to states and local governments for public transit, railways, power grids, electric vehicles and buses, ferries, airports, waterways, climate change, broadband internet, environmental protection, drinking water, and transformation safety. This program of fast-moving money, with untested controls, provides vast opportunities for fraud and waste. Auditors, investigators, and grants and contract managers at all levels of government will need to be especially vigilant for possible schemes and red flag indicators of fraud that robs the public of funds and performance.
Photos from recent activities hosted by the Pacific and Virgin Islands Training Initiatives (PITI-VITI) in support of conferences, training and leadership development, are available below.
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Please sign in below with your email address and password in order to join PITI-VITI training via Zoom. Note, you need to sign in each day of the course in order to receive CPE credit.
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