The Missouri State Auditor’s Office has announced an audit of the city books in Forsyth will begin Wednesday, October the 3rd. A process they have indicated could take up to a year to complete. I wondered why such a thing would take so long and came up with this:
“Many factors, including the size and complexity of the audit, agency schedules, staffing resources, and data accessibility, affect audit time-lines. However, one factor--compiling and verifying source evidence--consistently impacts the speed with which audits are completed.”
Unlike some other sources of information, audits are based on evidence that must be sufficient, competent, and relevant. As such, the State Auditor cannot accept information on face value and must independently verify its accuracy and reliability. Often, this requires audit staff to obtain, compile, and analyze source documents, such as file records.
When data are unreliable or cannot be verified, the data cannot be used as the sole basis of an audit finding. Rather, the finding must be supported by other audit evidence, such as auditor observation, interviews, surveys, comparative data from other states, or other analytical reviews.
Unlike some other sources of information, audits are based on evidence that must be sufficient, competent, and relevant. As such, the State Auditor cannot accept information on face value and must independently verify its accuracy and reliability. Often, this requires audit staff to obtain, compile, and analyze source documents, such as file records.
When data are unreliable or cannot be verified, the data cannot be used as the sole basis of an audit finding. Rather, the finding must be supported by other audit evidence, such as auditor observation, interviews, surveys, comparative data from other states, or other analytical reviews.
Whether that's the way it's done in Missouri is not known to me, but the explanation makes some sense.
