Embedded Files
Updated for FY 2025
A risk-based Annual Internal Audit Plan is prepared prior to the beginning of each new fiscal year. The plan is based upon a risk assessment conducted by the Office of Internal Audit. The risk assessment process involves Internal Audit collaborating with Department of Revenue (DOR) leadership to obtain their perspectives on key risk topics and any emerging challenges within their divisions. To avoid duplication of effort and maximize resources, consideration is also given to relevant audits performed by the Colorado Office of the State Auditor and other external agencies during the risk assessment process.
The Director of Internal Audit uses information gathered during the risk assessment, along with feedback from management, the Institute of Internal Auditors guidance and latest industry trends, to develop the Annual Internal Audit Plan.
The plan lists proposed projects for the upcoming fiscal year. The plan is then presented to the Executive Committee for their input and review. The Director of Internal Audit may revise the plan if business priorities change or new risks are identified.
Frequently Asked Questions
Q1. How will I know if my team is involved in an Internal Audit engagement this year?
A1. The Director of Internal Audit will communicate with Division leadership if and when an engagement is about to commence.
If your team is involved in an engagement, Internal Audit will arrange for meetings to discuss project scope and objectives. We may also submit an initial document request for information to your team.
The Office of Internal Audit’s How We Work With You page provides a more detailed overview of what to expect during an engagement.
Q2. We just had other auditors contact us - why are we included in the Annual Internal Audit Plan?
A2. In addition to engagements with the Office of Internal Audit, your operation may also be audited by external auditors.
External auditors could include the Colorado Office of the State Auditor, Federal Auditors, Environmental Health and Safety Auditors or other compliance auditors.
While we try to eliminate or reduce duplication of effort by coordinating our schedule with these other auditors, our contact with them may vary and your team may be reviewed more than once during the year, typically for different business areas and/or the same area in more detail.
Q3. Can I request or recommend an audit, investigation, or review?
A3: We welcome your comments!
If you have suggestions for improving the effectiveness or efficiency of DOR operations, please reach out to Internal Audit through our Internal Audit Suggestion Box. Your ideas will be considered when we select project topics for next year.
If you suspect fraud, waste, or abuse, please contact Internal Audit through the following channels:
Google Form: Report Fraud, Waste, and Abuse
Hotline Phone: (303) 866-2551
See DOR Fraud Hotline FAQs for more information.
Vision and Mission Statements
Our VISION: To be trusted advisor to every employee and manager of the Department of Revenue.
Our MISSION: To strengthen the Department of Revenue by proactively partnering with employees and managers to provide independent, objective, and reliable insights into the areas of innovation and security, risks and controls, compliance, efficiencies and fraud protection.
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