The Office of Policy and Audit (OPA) helps the Finance and Administration Cabinet (FAC) Secretary carry out his responsibilities as the chief financial officer for the Commonwealth. OPA conducts internal audits, investigations, and management reviews within FAC. At the approval of the Secretary, OPA also provides these services to other cabinets upon request. KRS 42.065
OPA evaluates and improves the effectiveness and efficiency of FAC operations within the following areas:
- Financial - independent assessment of whether reported financial information is presented fairly in accordance with generally accepted accounting principles (GAAP)
- Compliance - the assessment is based on criteria established by provisions of laws, regulations, contracts, grant agreements, or other requirements that could affect the resources of the Commonwealth or the efficiency of providing services to the public
- Operational - these performance audits provide objective analysis to assist management and those charged with governance to improve program performance, costs and efficiency by providing corrective actions and recommendations for internal controls
- Fraud and Abuse Detection - Fraud is any intentional act or omission designed to deceive others, resulting in personal gain. Abuse involves improper behavior that includes the misuse of authority or position for personal financial interests.
- Information Systems - audits include the analysis of the design or implementation of hardware, applications, or software systems, as well as managing IT vulnerabilities and internal controls
OPA's annual audit plans are reviewed and approved by the Internal Audit Committee (IAC) comprised of FAC management.
OPA also provides guidance to cabinet offices when enacting, amending, and repealing standard procedures. The OPA executive director serves as the cabinet's standard procedures coordinator.