2 | Unannounced Audit of Petty Cash and Change Funds November 2024 Executive Summary As part of the Annual Audit Plan, the Clerk of Circuit Court and County Comptroller’s Internal Audit Department and Office of the Inspector General conducted an independent, unannounced continuous audit of Petty Cash and Change Funds. Continuous Audits have narrowly defined scopes, are conducted on a recurring basis to identify risks and test controls, and result in timely notification of gaps and weaknesses. The audit found that Accounting Policies and Procedures are not being followed consistently throughout the County in regards to: • Receipts for Deposit of County Funds and Deposit Ticket Processing • Comingling of Imprest Funds • Safeguarding of County Assets Non-compliance with Accounting Policies and Procedures result in a higher risk of misappropriation of cash and cash equivalents, as well as inadequate records of who is accountable for such transactions.
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