audit

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Department of AuditGeneral informationv Mission and philosophyMichael Geesey, DirectorTo protect the public interest, the Department of AuditAgency contactwill audit and regulate to promote compliance with stateDennis Grenier, Administratorrevenue collections, financial and banking statutes and307/777-6600governmental accountability.Herschler Building, 3rd Floor EastCheyenne, WY 82002doawyo@state.wy.usv Results of outcomeshttp://audit.state.wy.usIncrease Revenue ComplianceThe department completed 484 audits at a direct cost of Other locationsPowell, one Excise Tax Division staff position $2.3 million and collected $29.3 million in revenue, whichequates to approximately $12.75 for every dollar spentYear establishedauditing. The objective is to increase compliance with state1989revenue statutes. The department audited $554.7 million ofstate revenue and found 96 percent of revenue due was Statutory referencesremitted. Without this audit function, the remaining 4 per- Title 9: W.S. 9-1-403: W.S. 9-1-507 through 9-1-512: W.S. 9-2-2003: Title 13: W.S. 13-1-604 through 13-1-606: W.S. 13-cent would not be collected.2-207 through 13-2-215: W.S. 13-2-702(e): W.S. 13-2-807(f):W.S. 13-4-101(a): W.S. 13-4-104(b): W.S. 13-4-109(f): W.S.Ensure Compliance with Financial Entities13-5-110(a)(vi): W.S. 13-7-602(b): W.S. 13-8-201(d): W.S. 13-The Division of Banking endeavored to ensure that all9-201(b): W.S. 13-9-309(a)(i): W.S. 13-10-203(c): W.S. ...

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Publié par	Irne
Nombre de lectures	71
Langue	English

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Department of

LMission and philosophy To protect the public interest, the Department ofAudit will audit and regulate to promote compliance with state revenue collections, financial and banking statutes and governmental accountability.

LResults ofoutcomes Increase Revenue Compliance The department completed 484 audits at a direct cost of $2.3 million and collected $29.3 million in revenue, which equates to approximately $12.75 for every dollar spent auditing. The objective is to increase compliance with state revenue statutes. The department audited $554.7 million of state revenue and found 96 percent ofrevenue due was remitted. Without this audit function, the remaining 4 per-cent would not be collected.

Ensure Compliance with Financial Entities The Division ofBanking endeavored to ensure that all licensed/chartered financial entities are in compliance with laws. The goal ofimproving state chartered and licensed entities financial institutions risk rating of1.5 to 2.0 was exceeded. The achievement ofa 1 rating, on a scale of 1to 5, indicates a financial institution is strong and healthy; the overall average risk rating achieved by Wyomings state chartered banks as ofJune 30, 2000, was 1.379.

Ensure Accuracy ofGovernment Reporting The strategy to promote state agency compliance with applicable performance statutes is measured by the accu-racy ofthe reported performance measures. During FY00, the division audited 136 agency outcomes and verified their accuracy at 59 percent. This is the same percentage as last year; however, since the department audits strategic plans on a two-year cycle, audits are ofdifferent agencies.

Ensure Timely Reporting The strategy to promote compliance with local govern-ment accounting and reporting requirements is to track the percentage ofreports that are received within the statuto-ry time frame. During FY00, the Department ofAudit received 2,146 various reports from local governments. Of these reports, 60 percent were received on or before the due date. These reports include audits, census reports, self-audit procedures, proof-of-cash and other required reports depending on the type ofentity and size. Public Funds increased efforts to obtain reports from local governments

Wyoming State Government Annual Report 2000

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