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ANNUAL AUDIT PLAN The Director of Internal Audit prepares an annual audit plan at the beginning of each fiscal year. Input is solicited from the Municipal Assembly, the Mayor, and Administration officials. The audit plan is submitted first to the Municipal Audit Committee members for review, comment and endorsement and then to the Mayor and Municipal Assembly for approval. The audit plan may be revised to accommodate requests from the Assembly and the Administration according to the procedures outlined in the Anchorage Municipal Code Section 3.20. Criteria for scheduling audits include the following:  Requests by the Municipal Assembly and Administration Potential for cost savings through more efficient, effective management Potential for increasing revenues     Areas with a high risk of loss or misappropriation Suspected fraud or error Areas identified with weak internal controls or known problems Safeguarding and management of Municipal assets Issues identified by the external auditors The audit process involves three phases: survey, field work, and reporting. Communication with auditees is an important part of all three phases. Survey - Survey work consists of discussions with agency personnel, physical inspections, review of records, and sample tests of transactions.  In addition, auditors obtain an understanding of internal controls significant to the audit objectives and consider whether specific internal control procedures have been properly designed and placed in operation. Field Work - During field work, the auditor plans and defines audit objectives, reviews and evaluates extensive data, documents findings, and develops recommendations for corrective action.  Reporting - At the end of field work, the results of the audit are communicated to officials at various levels of government.  Findings and recommendations are presented in a draft report that is furnished to auditees for their review and response.  The final audit report includes the auditor's findings, recommendations and management's responses and is available to the public.  Copies of final audit reports are available to the public at the Internal Audit Department, 632 W. 6th Avenue, Suite 600, P.O. Box 196650, Anchorage, Alaska 99519-6650. Telephone (907) 343-4438, Fax (907) 343-4370, e-mail: raiskumspw@muni.org. Copies of final audit reports are also maintained at the Loussac Library for public viewing and at this website through this link:  Audit Reports.

Related Links

•  Audit Overview •  Audit Staff •  Audit Responsibilities •  Internal Audit Reports

Related Agencies

•  AK Legislative Audit •  GASB •  FASB •  US GAO •  ACFE •  AGFOA •  IIA •  ALGA •  US OMB

632 W. 6th Avenue   Anchorage, Alaska  99501
PO Box 196650 Anchorage, Alaska  99519
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