Limited Scope Fiscal Audit at the Department of Convention and Tourism Development

The Controller’s Office conducted a limited scope fiscal audit at the Department of Convention and Tourism Development (CTD) focused on payroll and cash handling. We performed an analysis of hours worked and bonuses paid to CTD employees for a two-week pay period to determine whether all payroll payments were properly supported. We also performed a surprise count of CTD’s petty cash funds to determine whether adequate controls were in place.

In addition, we inquired about CTD’s oversight functions relative to the four bank accounts used by its contractor, AEG Management LACC, LLC (AEG) to assess the extent to which CTD monitored AEG’s expenditure of City monies derived from the operation and management of the Los Angeles Convention Center (LACC). Our audit was performed in accordance with Generally Accepted Government Auditing Standards. Those standards require that we plan and perform the audit to obtain sufficient, appropriate evidence to provide a reasonable basis for our findings and conclusions based on our audit objectives. We believe that the evidence obtained provides a reasonable basis for our findings and conclusions based on our audit objectives.

Our audit was performed in accordance with Generally Accepted Government Auditing Standards. Those standards require that we plan and perform the audit to obtain sufficient, appropriate evidence to provide a reasonable basis for our findings and conclusions based on our audit objectives. We believe that the evidence obtained provides a reasonable basis for our findings and conclusions based on our audit objectives.