COMPTROLLER'S AUDIT BUREAU RECEIVES HIGH MARKS IN INDEPENDENT REVIEW
New York City Comptroller John C. Liu stated the following in response to the strong commendations his Audit Bureau received in an independent review of its operations:
"The accomplished professionals in the Comptroller's office serve as vital checks and safeguards on City finances and operations," Comptroller Liu said. "Our Audit Bureau, led by Deputy Comptroller Tina Kim, has done the job our taxpayers demand and deserve. The praise our City auditors have earned from their professional peers across the country is something New Yorkers will appreciate knowing about."
"It's gratifying that this peer review reflects the successful implementation of Comptroller Liu's goals for the Audit Bureau, specifically our focus on risk-based planning, the use of technology to increase efficiency and, as the report notes, constant improvement to the overall program to benefit New York City," Deputy Comptroller Kim said.
The independent peer review singled out Comptroller Liu's Audit Bureau for having "identified an objective of continually improving the quality of audits conducted to better add value to the operations of the City of New York." The report commended several of the Audit Bureau's initiatives that have supported that goal:
· "Developing an annual plan that is forward looking, focusing on New York City issues and priorities, and the risks the City faces."
· "The purchase of TeamMate, an audit software package that has fully automated the process of preparing and reviewing the work papers for audit engagements. The software is fully implemented and functioning very well."
· "Enhancing the use of computer assisted audit techniques by introducing software such as ACL and ACERNO to assist in data analytics."
BACKGROUND
The work of Comptroller Liu's Audit Bureau is subject to an independent external review every three years to ensure it is following the Generally Accepted Government Auditing Standards set by the U.S. General Accounting Office. The previous review was conducted in November 2010. Both peer reviews are available here: http://comptroller.nyc.gov/reports/gagas-peer-review-report/.