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Internal Audit

Port Audit Committee

On June 13, 2006, the Port Commission formally established the Audit Committee. The Audit Committee represents the commission and provides review and oversight authority on matters relating to the Port’s internal control environment. The current members members serving on the Audit Committee are:

The Audit Committee meets four times per year, as noted on the Commission Meetings page. At these meetings, internal audit results are presented and discussed. Also discussed are the results of external audits performed by outside agencies and firms. This public forum provides for increased transparency, accountability, stronger internal controls*, and reduced business risk.

Internal Audit

Internal Audit reports to the Audit Committee and is led by Glenn Fernandes.

Internal Audit is uniquely positioned to provide independent assessments of key business processes and systems within the Port. The team is a valuable resource that provides unfiltered information to the Audit Committee and more broadly to the Commission and Executive Director. Final audit reports are also made available to the public.

Audits are generally grouped into three categories:

  • Limited Compliance
  • Operational
  • Information Technology

Our audits are designed to add value by:

  • Identifying and assuring remediation of control weaknesses.
  • Identifying opportunities to make processes more lean and efficient.
  • Recommending changes to governance so that effective oversight is achieved.

With a broad understanding of operational processes, Internal Audit plays an integral role in providing an objective assessment to position the Port to accomplish its strategic objectives and Century Agenda. This is done through open and honest communication with the goal of increasing efficiency, transparency, and accountability.

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting and compliance with laws, regulations and policies. (Source: Wikipedia

General Information

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