How often does LADWP undergo financial audits conducted by the City Controller?

LADWP undergoes financial audits conducted by the City Controller annually. This frequency ensures that the financial practices of the department are regularly evaluated for compliance and transparency. Annual audits help in timely detection of issues, ensure that financial statements accurately reflect the department's operations, and maintain public trust in its financial management. Regular audits also facilitate better financial planning and resource allocation. This practice aligns with good governance principles and helps LADWP uphold high standards of accountability and performance.