Placer County’s accounting and auditing processes have been given a clean bill of health from the Placer County Audit Committee. During this week’s Board of Supervisors meeting, Audit Committee Chair Wayne Nader reported that the committee found the county’s system of internal controls to be in place and operating effectively. The committee also found the financial reporting processes adequate to ensure the financial statements fairly presented the county’s financial position.
The Audit Committee was established in 2008 to assist the board with fulfilling its oversight responsibilities by monitoring the reporting and internal control processes, evaluating compliance with laws and regulations, and ensuring the independent performance of internal and external auditors.
The committee members include District 3 Supervisor Jim Holmes, Board Chair Bonnie Gore and Nader, who is a member of the public. Over the past year, the committee has met four times with external and internal auditors to discuss the county’s performance.
“The bottom line is that the internal controls are effective, and the accounting methods are solid,” said Nader. “However, I would caution you when it comes to online transactions and increased credit card activity because it can be an area of risk.”
Placer County Auditor-Controller Andrew Sisk told the board the county’s accounting processes are exceptional now that they have been integrated into Workday, the organization’s new suite of software designed to manage finance, human resources, and payroll. He added, “I am very proud of our latest Comprehensive Annual Financial Report as it was the first one produced utilizing Workday.”
During the board meeting, Nader announced he would be stepping down after 12 years of service to give someone else in the community an opportunity to serve.
“I knew when we formed this committee, we needed someone with a strong accounting background to manage these audits and we really were fortunate to have had Wayne Nader at the helm for so long,” said Supervisor Holmes. “I want to thank you for your commitment to this process and for your 12 years of service to our community.”