Office of the Chief Financial Officer

Executive Summary for Closed Reports

Original Report

Report No. 11-02-04-OTR: Office of Tax and Revenue Filing Season Probe, dated April 19, 2012

Current Status

Closed.

Chief Risk Officer’s Risk Assessment

The Inherent Risk associated with individual income tax refund fraud is classified as High.  While the OCFO recognizes it cannot achieve a zero-risk profile due to other risks to its mission, including financial risk, customer service risk and efficiency risk, it is committed to a robust suite of controls – classified as Strong – to mitigate this risk.  This specific probe was in response to a request by the Chief Risk Officer to verify, using a fictitious account, that the internal controls would prevent a refund to an invalid taxpayer.  The probe proved that the internal controls performed as intended.

Recommendations Overview   

There were no recommendations as a result of this probe.

To view the full report, Click : Filing Season Probe Full Report