Timely consideration and resolution of audit findings is a key part of an agency's internal control system. An organizational culture where management values opportunities to improve internal controls and correct weaknesses is an indication of a strong control environment. MN Statute Section 16A.057, Subdivision 5, requires the Department of Minnesota Management & Budget (MMB) to monitor audit reports issued by the Office of the Legislative Auditor (OLA). Also, MMB Statewide Operating Policy 0102-02, OLA Audit Report Monitoring, requires each agency to develop corrective action plans to resolve all internal control weaknesses and compliance violations identified by the OLA (Financial Audit Division only) and to communicate implementation progress periodically to MMB. Each corrective action plan must include the following elements:
- A description of the corrective measure(s) taken, or to be taken
- The person(s) responsible to take action
- A target date for resolution
Agency management must communicate the status of their corrective action plans to MMB every 90 days. The Internal Control & Accountability will initiate the quarterly reporting by providing applicable agencies with a Corrective Action Plan Status Update spreadsheet (CAPSU) to complete and return. Quarterly CAPSU reporting will continue until each audit finding included in each OLA report is fully resolved or no longer applicable.