Title
Presentation by Crowe, LLP on Lake County’s Internal Audit function, including best practices, current state assessment, recommended framework and audit plan.
Staff Summary
• Internal Audit is governed by Illinois Statute 55 ILCS 5/Div.3-1.
• Lake County voters eliminated the elected County Auditor position in the 1970’s and since then, the function has been a responsibility of the County Finance department.
• In 2018, an assessment of the Finance and Administrative Services (renamed Finance) departmental functions recognized that there were opportunities for Lake County to improve its enterprise risk management and internal control framework to better manage risk, streamline business processes, and strengthen internal controls.
• In 2022, the Finance department, under the direction of the County Administrator’s Office and the County Board, contracted with a third-party consultant, Crowe LLP, to develop a framework for the Internal Audit function for Lake County by evaluating existing internal audit policies, reports and practices, developing an audit charter (policy), reviewing the existing audit function and providing recommendations for ongoing internal audit operations.