Title
2027 Audit Plan Review
Presenter:
Natalie Lovell, City Auditor, Office of the City Auditor
Body
Summary:
The 2027 Audit Plan was prepared by the City Auditor and presented to the Audit Committee in June 2026, following a dedicated workshop with citizen members of the Committee on June 2, 2026. The Audit Committee reviewed the plan, provided feedback, and fully supports the final version being submitted for City Council endorsement.
Background:
The 2027 Audit Plan is based on a comprehensive risk assessment conducted by the City Auditor, in accordance with professional auditing standards. As part of this process, input was gathered from City Council, City Administration, Colorado Springs Utilities, Colorado Springs Airport, and other stakeholders.
We aim for a collaborative approach to audit planning. Our goal is to ensure the Audit Plan reflects both organizational risk and leadership insight, while maintaining the independence required by professional standards and City Code. Early engagement helps ensure alignment with organizational priorities and emerging risks.
The resulting Audit Plan servs as the primary work plan for the Office of the City Auditor. Most audits will be conducted by internal staff, though funds may be allocated to external resources when specialized expertise is required.
Some audits are mandated by City Code or City Charter. In addition, the governance model for Colorado Springs Utilities requires certain external reporting responsibilities that have been delegated to the City Auditor. Elective audits are prioritized based on their risk assessment scores, with on the highest-risk items included in the 2027 Audit Plan.
Previous Council Action:
The last formal review of the Annual Audit Plan by City Council occurred in 2025. Beginning in 2025 and going forward Council will review the Annual Audit Plan each year in a Council Work Session for review and endorsement.
Financial Implications:
The 2027 Audit Plan w...
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