Reviews & Audits
Understanding the Review & Audit Process
Our goal is to ensure clear communication between the Office of the Bond Program Monitor (BPM) reviewers, auditors, LACCD Staff, and Bond Program management and to provide findings that are accurate and presented fairly in reports.
The purpose of the review or audit is not to rehash past mistakes, but to look at past events with a view toward improving future performance. Findings from a review or audit can be used as a basis for adjusting policies, priorities, structure, or procedure in order to make operations as efficient, economical, and effective as possible.
We conduct reviews and audits of the LACCD Bond Program to:
- Prevent and detect fraud, waste, and misconduct;
- Promote economy, efficiency, and effectiveness;
- Promote program integrity, and
- Keep the Board of Trustees, the Chancellor, District, and Bond Program management informed of problems, deficiencies, and corresponding corrective actions.
Selection of Reviews & Audits
The BPM’s priorities, which are documented in the Annual Work Plan are determined by a combination of factors including the level of program assessed risk, dollar magnitude, and vulnerability to fraud, waste and abuse, as well as suggestions from the Board of Trustees, the Chancellor, or District officials. Reviews and Audits may also be prompted by feedback received as part of the BPM Whistleblower Hotline program, or an ongoing investigation.
Definition of a Review
Reviews, including inspections and evaluations, performed by the Bond Program Monitor constitute the primary area of work appropriate to the BPM’s mission and authority.
The BPM conducts reviews for the purposes of providing information for decision-making, and of making recommendations to improve programs, policies, or procedures. The objectives of these processes include providing a source of factual and analytical information, monitoring compliance, measuring performance, and assessing the efficiency and effectiveness of the Bond Program.
Definition of an Audit
In addition to performing reviews for the LACCD Bond Program, the BPM may occasionally conduct certain financial or compliance performance audits.
Audits performed by the BPM shall be done in accordance with one of the following generally accepted auditing standards as recommended by the Association of Inspector General “Principles and Standards for Offices of Inspector General”:
- Government Auditing Standards issued by the Comptroller General of the United States, or
- Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors.
- Generally Accepted Government Auditing Standards (“GAGAS”)
All reviews and audits provide findings, conclusions, and recommendations and result in the issuance of a report.