Listen as we dive into the thrilling world of audits and financial reviews. In this episode, we meet Vickie Murphy, the iron-willed audit commander, who leads a team of 31 auditors with precision and expertise. Discover the challenges and triumphs of auditing Valley Metro's bus contracts, uncovering compliance issues, and ensuring public safety. With insights from Vickie's extensive career, this episode is a must-listen for anyone interested in the power of audits to drive change and accountability. Don't forget to subscribe and share with your fellow audit enthusiasts!
Chapters:
00:00 - Introduction to the Audit World
02:06 - Valley Metro Audit Overview
03:59 - Procurement and Contract Monitoring Challenges
08:45 - Change Order Issues and Recommendations
10:18 - Contract Monitoring Forms and Inconsistencies
14:49 - Public Safety Concerns in Auditing
15:36 - Invoice Processing and Payment Issues
18:04 - Financial Reporting and Cost Categorization
22:08 - Conclusion and Future Recommendations
23:42 - Invoice Review and Documentation Issues
27:41 - Federal Compliance and Change Orders
31:10 - Miscellaneous Reimbursements and Contractual Gaps
32:43 - Operational Efficiency vs. Financial Oversight
35:12 - Recommendations and Future Improvements
36:01 - Career Progression and Audit Insights
39:39 - Experiences in Corrections and Internal Auditing
41:02 - Certifications and Professional Development
46:42 - Balancing Creativity and Compliance
About Vickie Murphy:
Vickie Murphy, CPA CIA CFE CGAP CICA CCSA CRMA is currently the Chief Auditor at the Arizona Department of Transportation. Her office is responsible for performing performance audits, financial audits, compliance audits and tax audits. Vickie has devoted her career to public service and helping to improve internal controls and accountability. Vickie has also been a facilitator for the Institute of Internal Auditors for over ten years.
After graduating from the University of Montana, Vickie started her audit career working for the Montana Legislative Auditor’s Office performing financial compliance audits. She wanted to have an opportunity to provide more detailed help to an organization, so she became an Internal Auditor for the Montana Department of Corrections. As part of that role, she led specialized employees on contract facility compliance reviews. Eventually she moved to the Montana Department of Transportation and held several roles before moving into the Chief Auditor position. After 10 years, she retired from there and moved south to Arizona.
Vickie has a Bachelor of Science in Business Administration with emphasis in Accounting and an emphasis in Finance. She is a Certified Public Accountant, Certified Fraud Examiner, Certified Internal Auditor, Certified Government Auditing Professional, Certified Internal Control Auditor, Certified in Risk Management and Assurance, and Certified in Control Self Assessments.
Vickie served as the Training Officer for the Big Sky Chapter of Certified Fraud Examiners having held various positions within the chapter for 16 years. She served on the Association of Certified Fraud Examiners Scholarship committee for five years. She was actively involved in national committees related to the American Association of State Highway Transportation Officials (AASHTO) Internal/External Audit Committee and is currently the Secretary of the committee.