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Audit Buzz Newsletter
September 2021
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In this issue of Audit Buzz, we summarize the status of current engagements, provide information on The What, When, Why and How of audits in the Knowledge Hive, and highlight the newest citizen member of the Audit Committee.
Prior editions of Audit Buzz are archived here on OAG's website.
As always, we appreciate the cooperation and courtesies extended to our staff by FCPS management and staff during all past, current, and future audit engagements.
Engagement and Office Updates
Current Engagement Update
- At the September 29, Audit Committee meeting, OAG presented on the following agenda items (full agenda can be found on BoardDocs):
- Auditor General Updates
- Inquiry related to Leadership Development Procurement (see Memo here)
- FY21 Continuous Monitoring Q3 and Q4 Results
- Audit Follow-up Status
- The Business Continuity Plan and Community Use audits are currently ongoing.
- OAG continues to serve as the project liaison for a comprehensive program review of FCPS’ special education, which American Institutes for Research (AIR) was contracted to perform. The researchers completed the Year 1 data collection activities and are working on identifying emerging themes. The Year 1 Interim Report and Year 1 Interim Report Presentation were presented to the School Board at the work session on September 21.
Knowledge Hive
This is part 2 of a 3 part series about Audit. The first part of the series, Part 1: What is an Audit?, was published in the June 2021 issue of Audit Buzz, and contained information on common types of audits, including internal audits. Parts 2 and 3 this series will be presented from the perspective of internal audit. In this issue of Audits – The What, When, Why and How, we will discuss more details on audit, with an emphasis of answering the common question, “When will I be audited and why?”
Audits – The What, When, Why, and How
As a refresher, internal audits serve as a managerial tool to make improvements to process and internal controls of an organization. The FCPS internal audit function is the Office of Auditor General (OAG), which independently reports to the School Board through the Audit Committee. Each year the Auditor General prepares an annual risk assessment and audit plan which directs the work of the auditors.
Selection of audit projects is one of the most important responsibilities of the Auditor General. Careful consideration is given to prioritizing audit areas so that audit resources are allocated efficiently and effectively. The Office of Auditor General submits an annual audit plan to the School Board for review and approval. OAG utilizes a risk assessment model to identify and prioritize audit areas to develop the annual audit plan. The model first seeks to examine FCPS organizationally to identify potential audit topics. The potential audit topics are then prioritized by considering various risk factors including: expenditures, estimated revenues, number of staff, audit requests, and the date/results of the last audit. In addition, OAG solicits feedback from School Board and Audit Committee members, FCPS Leadership Team, and other FCPS employees on the potential audit topics. After prioritizing the audit topics based on the above factors and feedback, OAG prepares the annual Audit Plan for approval by the School Board. More information on the risk assessment process can be found in the January 2021 issue of Audit Buzz.
The audit plan usually includes 5-6 larger audit topics that take several months to complete. These audits are usually centered within one department and focus on a particular function within that department. In addition to these larger topics, the audit plan includes several smaller topics that are completed over the course of the entire fiscal year and may impact FCPS in its entirety. These smaller audits include Business Process Audits and Continuous Monitoring. More information about the most recently approved audit plan and an explanation of the audit preliminary objectives can be found on the OAG website.
Tune into the next issue of Audit Buzz for Part 3: How will the Audit be Conducted?
Did you Know?
Announcement of New Citizen Member to the School Board Audit Committee
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Jonathan Shames Ernst & Young (EY) - Retired
Jon Shames is a recently retired EY partner with over 38 years of client service, leadership, financial expertise and board governance credentials. His professional experiences provide him with the capabilities to serve as a highly engaged, practical advisor to the School Board Audit Committee.
Jon played many different roles with EY during his long career. He started as an audit professional,
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working in the EY's New York Office, and then moved to Virginia in 1998, where he ran EY's local technology practice while serving in various local and regional leadership roles. Since 2007, Jon has worked with the firm's largest global Private Equity clients, serving as a Global Client Service Partner with many of them. And, finally, in 2017, Jon formed and led EY's global Geostrategic Business Group, which translates geopolitical insights into business strategy. During his career, Jon has also worked with a number of not-for-profit boards, many of them as an audit committee member.
Jon obtained his BA in Economics from Colgate University and an MBA in Finance from New York University. He is currently an Associate Board Member at the Wolf Trap National Park for the Performing Arts and on the Board of Advisors for GlobalWonks. Beyond Jon’s business endeavors, he strongly believes in giving back to the community and is looking forward to engaging with the local community now that he is retired. He recently started serving as an election official for Fairfax County.
Jon enjoys playing tennis and golf, as well as exercising, traveling, food and wine, movies, reading, history and geopolitics. He is an avid Washington Capitals fan and is the father of three grown children, all who attended Fairfax County Public Schools.
Welcome Jon Shames as the newest citizen member to the Fairfax County School Board Audit Committee. He is currently serving a 2-year term.
Next Audit Committee Meeting
The next Audit Committee meeting is scheduled for October 27, 2021 at 4:00 PM. Please refer to BoardDocs for meeting information once it becomes available.
Fraud, Waste, and Abuse Hotline:
(571) 423-1333 (anonymous voicemail)
InternalAudit@fcps.edu (email is not anonymous)
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