Ideas & Insights

Webinar: Improving Internal Audit Performance for State and Local Government

Webinar: Improving Internal Audit Performance for State and Local Government

Recently, Jim Godsey, MGO Senior Assurance/Advisory Partner was a panelist in a Webinar with Dr. Peter Hughes, Assistant Auditor-Controller, Los Angeles County, and Kieu-Anh King, Budget Deputy, Los Angeles Board of County Supervisors, Third District.

The Webinar, titled “Leading Change: Reinventing Internal Audit to be Faster, Cheaper and Better by Thinking Out of the Box or How to ‘Blue Sky’ Your Way to Innovations” was hosted by The Institute of Internal Auditors (“IIA”) and had over 650 registrants nationwide. The Webinar focused on how: “Los Angeles County made their audit processes and products faster and cheaper, while at the same time making them better, and how you can do that too.”

Dr. Hughes and his team, in collaboration with Jim Godsey and MGO’s leading State and Local Government Practice, effected changes that reduced audit costs, improved timeliness of client responses, and improved working relations with the Audit Committee.

In the Webinar, Dr. Hughes, King, and Godsey, discuss how Los Angeles County:

  • Built a bulletproof working relationship with the Audit Committee.
  • Identified and implemented specific ways to reduce audit costs by 50% or more.
  • Found ways to speed up the turnaround time for the client’s response by 40% or more.
  • Reduced the cost of following up on clients’ corrective action by as much as 90%.
  • Adopted a method to rank audit findings that identified levels of priority for taking corrective action.
  • Implemented online client satisfaction surveys that promoted a closer and more effective working relationship with clients.

The learnings and insights shared in the Webinar are currently available to view for active IIA-North America members.