…by your side. …working collaboratively. …to add value

Download …by your side. …working collaboratively. …to add value

Post on 01-Apr-2015




0 download

Embed Size (px)


  • Slide 1

by your side. working collaboratively. to add value. Slide 2 Who we are Single AuditInternal Audit Transportation Audit Slide 3 Who we are (contd) OAS is comprised of the following three sections: Single Audit Single audit conducts audits of not-for-profit organizations and selected school districts throughout the State that receive funds administered by the SCDE. Transportation Audit Transportation audit conducts audits of the agencys maintenance bus shops to determine the adequacy of internal controls and to ensure compliance with applicable state and agency regulations, policies, and procedures. Internal Audit Internal audit conducts operational and compliance audits of the agency's programs and operations to ensure accuracy of reported information, efficient and effective operations, and compliance with applicable laws and regulations. Slide 4 Why were here The mission of the Office of Auditing Services (OAS) is to add value to the South Carolina Department of Education (SCDE) by providing assurance and consulting services to management to ensure its financial and operational objectives are being achieved as well as ensure the agency and its subrecipients are in compliance with applicable federal and state laws and regulations. Slide 5 What you can expect Professionalism Objectivity Credibility Competency Adherence to Standards Communication Slide 6 How we can help you Well make an objective assessment of your operations and programs and share ideas for implementing best practices. Well provide recommendations for improving controls, processes and procedures, performance, and risk management. Well help you comply with both existing and new legislation and regulations for enhanced governance. Well provide assurance to the agency on whether subrecipients are properly expending funds that have been awarded. Well deliver competent consulting, assurance, and technical assistance services. Slide 7 Our menu of services Conduct limited scope audits of existing non-LEA subrecipients. Conduct pre-award audits of potential subrecipients to assess their financial management systems and capability to manage the potential grant award. Receive and review the independent audits of each LEA and charter school in the state to determine financial responsibility and ensure compliance with federal and state regulations. Conduct desk reviews of LEAs with federal program award findings, request management decision letters from program managers as required by OMB Circular A-133, and send closeout letters to the applicable LEAs. Slide 8 Services (contd) Conduct financial and operational audits of the agencys programs and operations. Conduct IT audits related to general and application controls and IT governance. Investigate allegations of fraud and coordinate with the South Carolina Office of the Inspector General. Conduct control and risk assessment facilitated discussions. Slide 9 Plus, we Calculate and distribute indirect cost rates to LEAs. Develop and disseminate the Annual Audit Guide. Update and disseminate the Financial Accounting Handbook and update expenditure codes as needed. Prepare federal reports on statewide expenditure per pupil information which is used to determine South Carolinas Title I allocation. Conduct training and technical assistance sessions as needed for school business officials, CPAs, internal program managers, and bus maintenance shop personnel. Provide independent consulting to programs to address their specific grant management and monitoring questions and concerns. Conduct continuous audits of selected agency activity to ensure compliance. Slide 10 Plus, we Conduct final audits for those subrecipients of multi-year grant awards. Conduct audits of subrecipients via special request from program management or senior management. Assist programs with interpretation of regulations and guidance as requested. Document and analyze processes and assess internal controls. Review program monitoring tools to offer best practices and suggestions for improvement. Review implementation of external monitoring and audit recommendations. Provide input during IT system development and/or implementation, as requested. Participate in agency working groups to provide insight from an auditing perspective. Slide 11 How you can help us Controls are everybodys business. This means we all need to work together toward mutual accountability for internal control. If you are aware of a control thats not working, lets put our heads together and come up with a way to make it better. Disclose emerging or current risks that senior management may be unaware of. Report occurrences of fraudulent activities, misappropriations, and similar irregularities. Slide 12 Where we go from here When you involve us as part of the solution, we can help you meet your goals and objectives in a variety of ways. To request an audit, arrange technical assistance or other services, feel free to contact us individually or at auditingservices@ed.sc.gov or at 803-734-8108. auditingservices@ed.sc.gov Feel free to learn more about us at http://ed.sc.gov/agency/as/ http://ed.sc.gov/agency/as/


View more >