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File #: 20-0911    Version: 1 Name:
Type: Board of Directors Item Status: Agenda Ready
File created: 9/21/2020 In control: Board of Directors
On agenda: 10/13/2020 Final action:
Title: Consider Recommendations Resulting from the September 16, 2020, Board Audit Committee Meeting to Approve Initiation of the Permitting Best Practices Audit (Permits Provided to Requestors); Approve TAP International, Inc. as Auditor for the Permitting Best Practices Audit; and Approve Changes Recommended by the Board Audit Committee to the TAP Annual Audit Work Plan.
Attachments: 1. Attachment 1: Permitting Best Practices Audit Task Order, 2. Attachment 2: Annual Audit Work Plan, Redlined, 3. Attachment 3: Annual Audit Work Plan, Revised
BOARD AGENDA MEMORANDUM


SUBJECT:
Title
Consider Recommendations Resulting from the September 16, 2020, Board Audit Committee Meeting to Approve Initiation of the Permitting Best Practices Audit (Permits Provided to Requestors); Approve TAP International, Inc. as Auditor for the Permitting Best Practices Audit; and Approve Changes Recommended by the Board Audit Committee to the TAP Annual Audit Work Plan.


End
RECOMMENDATION:
Recommendation
Consider recommendations resulting from the September 16, 2020, Board Audit Committee meeting and:
A. Approve Initiation of the Permitting Best Practices Audit (Permits Provided to Requestors);
B. Approve TAP International, Inc. to be the auditor for the Permitting Best Practices Audit; and
C. Approve Changes Recommended by the Board Audit Committee to the TAP Annual Audit Work Plan.


Body
SUMMARY:
The Board Audit Committee (BAC) was established by the Valley Water Board of Directors (Board) to identify potential areas and priorities for auditing; to review, update, plan, and coordinate the execution of Board audits.

On May 23, 2017, the Board approved an on-call consultant agreement with TAP International, Inc. (TAP) for Board independent auditing services. On September 26, 2018, TAP presented the final Risk Assessment Model to the BAC, which provided an assessment of operational risks to Valley Water. The Risk Assessment Model developed heat maps of Valley Water operational areas based on risk impact (low, moderate, and high risk). The results of the risk assessment included input from Valley Water's Board of Directors, management, and staff, and was used to assist in the development of a TAP Annual Audit Work Plan. The highest risk areas included procurement, contract change order management, succession planning, and fraud prevention. On February 26, 2019, the Board approved the BAC's recommendation for TAP to conduct three performance audits. The three audits included performance audits of the District Counsel'...

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