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File #: 17-485   
Type: Orange County Transportation Authority Item Status: Committee Ready - Consent
File created: 4/3/2017 In control: Finance and Administration Committee
On agenda: 4/26/2017 Final action: 4/26/2017
Title: Investment Management Service Contracts, Internal Audit Report No. 17-504
Sponsors: Gabriel Tang, Janet Sutter
Indexes: CONTRACT
Attachments: 1. Transmittal, 2. Staff Report, 3. Attachment A

Title

Investment Management Service Contracts, Internal Audit Report No. 17-504

 

Overview

The Internal Audit Department has completed an audit of Investment Management Service Contracts. Based on the audit, contract compliance and invoice review controls are generally adequate; however, several concerns were identified related to the procurement of treasury management software. Also, a recommendation was made to update agreements with investment managers.

 

Recommendation(s)

Direct staff to implement two recommendations provided in Investment Management Service Contracts, Internal Audit Report No. 17-504.