About Us

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Mission Statement
Charter
Core Services
What are Internal Auditors?
Staff
Professional Certifications
Strategic Plan
Quality Assessment Review
Tips & FAQ
Professional Affiliations

Office of Internal Audit
609 West Jefferson Street
Louisville, KY 40202
(502) 574-3291

 

 

 

 

 

 

Mission Statement

Provide independent, objective assurance and consulting activities that assist both policy makers and program managers in providing high-quality services in a manner that is accountable, efficient, effective, and ethical. Provide services that add value and improve Louisville Metro Government operations. Support the accomplishment of Louisville Metro Government’s objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. 

Charter

The Office of Internal Audit charter is decreed in Chapter 30 of Louisville Metro's ordinances. The charter establishes the internal audit activity's position within the organization, authorizes access to records, personnel, and physical properties relevant to the performance of engagements, and defines the scope of internal audit activities. To review the Office of Internal Audit's charter in its entirety click here

Core Services

The Office of Internal Audit provides four core services. The following is a brief description of each.

Assurance
Reviewing operations, policies, and procedures to ensure that the business risks are addressed through appropriate internal controls. This includes compliance reviews to ensure activities are in accordance with requirements.

Consulting
Providing services to help address specific issues and concerns. These issues may not necessarily be high-risk areas but add significant value to clients. Overall, these efforts do not require a substantial investment of our resources, which helps maximize the value of the service.

IT Audit
Ensuring that electronic information is processed as intended, data integrity is maintained, and the control structure is effective. This is primarily achieved through security reviews with the assistance of an external consultant.

Integrity
Investigating allegations regarding employee misconduct and / or non-violent criminal acts involving Metro government resources. These investigations are in response to situations which require immediate action and a substantial amount of resources. We also perform proactive reviews focused on key fraud risk areas, which is a recommended best practice in the internal auditing profession.

What are Internal Auditors?

When people hear internal audit they generally confuse it with a financial audit. This is because people are more likely to be familiar with a financial audit than internal audit. To help people better understand our core services the characteristics of internal auditors are compared to financial auditors below.
  

Internal vs. Financial Auditors...

Characteristic

Internal Auditor vs. 

Financial Auditor

Focus

Risk management, control, governance, goals  vs.

Presentation of financial statements

Scope

All operations  vs.

Fiscal financial records

Status

Part of entity  vs.

External to entity

Audience

Internal Management  vs.

3rd Party Stakeholders

Report

Opportunities and recommendations for improvement  vs.

Presentation of financial statements

Standards

International Standards for the Professional Practice of Internal Auditing

Government Auditing Standards  vs.

Generally Accepted Auditing Standards

Generally Accepted Accounting Principles

Designation

Certified Internal Auditor (CIA)  vs.

Certified Public Accountant (CPA)

Skills

Interdisciplinary  vs.

Accounting

 

Staff

The Office of Internal Audit is staffed with eight professionals, each having obtained a bachelor’s degree, including four with master's degrees. The organizational chart below provides a diagram of Internal Audit's staff structure. 

Organizational Chart of the Office of Internal Audit


Professional Certifications

The Office of Internal Audit staff members demonstrate their commitment to the profession by pursuing and attaining professional certifications and through continuing professional education. The information below provides a breakdown of professional certifications held by audit staff (some individuals may have multiple certifications). 

Certified Internal Auditor (CIA) - Awarded by Institute of Internal Auditors. A hallmark designation for internal audit professionals; the only globally accepted certification for internal auditors and remains the standard by which individuals demonstrate their competency and professionalism in the internal auditing field.  

Certified Fraud Examiner (CFE) - Awarded by Association of Fraud Examiners. This designation denotes proven expertise in fraud prevention, detection, deterrence and investigation.  

Certified Public Accountant (CPA) - Awarded by the American Institute of Certified Public Accountants. This certification entitles the holder to perform audits, reviews, and compilations of financial statements.

Strategic Plan

Six Year Strategic Plan
The Office of Internal Audit’s Six Year Strategic Plan is the roadmap that will assist the department in achieving the goal of being the preeminent provider of value added assurance and consulting services to Louisville Metro Government.  This document is divided into several sections – the purpose of the Office of Internal Audit; the vision for the office; our core services we provide to Louisville Metro Government, and our goals and objectives for the next six years. 

The Office of Internal Audit’s Six Year Strategic Plan is available for download by clicking on the following.

Strategic Plan Update-January 2015 (PDF)

Previous year updates of the Office of Internal Audit's Six year Strategic Plan is available for download by clicking on the following.

Six Year Strategic Plan 2013 (PDF)

Strategic Plan Update-January 2014  (PDF)

Quality Assessment Review

Professional internal auditing standards require that internal audit functions undergo a comprehensive external Quality Assessment Review (QAR) at least once every three to five years. The purposes are to:

•Assess the efficiency and effectiveness of the internal audit activity;

•Identify opportunities and offer ideas and counsel for improving the performance of the internal audit activity;

•Provide a rating as to the Office of Internal Audit’s conformity to the International Standards for the Professional Practice of Internal Auditing and Government Auditing Standards.

An external QAR helps answer the question “Who audits the auditors?”

The results of the Office of Internal Audit’s QAR's are below.

2018 - Quality Assessment Review
2014 - Quality Assessment Review
2011 - Quality Assessment Review
2006 - Quality Assessment Review
2002 - Quality Assessment Review

Quality Assessment Reviews are in PDF format, Acrobat Reader is required to view. To get Acrobat reader for free click here.

Tips & FAQ

Provided below are the Office of Internal Audit's tips and Frequently Asked Questions. Select one of the links and enjoy the read.    
 

*Frequently Asked Questions were obtained from The Institute of Internal Auditors. 

All general information is in PDF format, Acrobat Reader is required to view. To get Acrobat reader for free click here.

Professional Affiliations

The Office of Internal Audit maintains a professional affiliation with the organizations listed below.  Please click on the organizational symbols below to be directed to that organizations home page.

 

 

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