Las Vegas monorail could be subject to audit
Independent auditing firm reportedly examines Las Vegas Monorail Co. parts and inventory sourcing, monorail revenues and Las Vegas Convention and Visitors Authority advertising contract as part of the 2021 audit plan recommended on Thursday by a committee.
LVCVA’s audit committee also unanimously recommended a $ 51,500 contract with the Las Vegas office of BDO USA, LLC to perform an independent audit for the year ending June 30. An additional $ 6,000 is allocated to complete the annual third party audit of the receipt and use of lodging tax revenue for the expansion and renovation of the Las Vegas Convention Center District West Hall.
LVCVA’s board of directors will consider the recommendation of the audit committee at its meeting on Tuesday.
The authority had a long-term contract with Piercy, Bowler, Taylor & Kern as an independent auditor, the last signing of a five-year agreement with annual renewals in March 2018. BDO acquired Piercy, Bowler, Taylor & Kern last July and 2021 the audit will represent the fourth year of the five-year contract.
Audits of the monorail company will be a further step in the process since LVCVA acquired the 3.9-mile electric transit system from bankruptcy last year.
Auditors’ review of the LVCVA advertising contract began last year when a request for proposal process for a new advertising contract was disrupted by closures resulting from the coronavirus pandemic.
In addition to the monorail and advertising audits, BDO will review employee management, the purchasing process, promotional materials and a general IT overview if approved by the full board during the week. next.