A bleak analysis of the Denver Regional Transportation District’s (RTD) internal audit division was shared earlier this month with RTD’s board, which pledged to make immediate changes.
The report, conducted as a peer review by the American Public Transportation Association (APTA), did not pull punches. The report listed 17 recommendations to improve the audit division’s systems, procedures, planning, charter, reporting structure, staffing, follow-through, independence, record-keeping and its own quality assurance process.
Overall, the report said the division fails to meet the Institute of Internal Auditors International Professional Practices Framework (IPPF), also known as “The Standards,” 171 pages of “authoritative guidance on the internal audit profession.” The IPPF book, now on order for RTD staff as a reference document, “presents internationally consistent mandatory and strongly recommended guidance for the practice of internal auditing anywhere in the world.”