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This report responds to a 2004 request from the Audit Committee that the Auditor
General provide on an annual basis the “value added of his department”.

This report contains the Auditor General’s estimate of the quantifiable financial benefits
resulting from the work conducted by the Auditor General’s Office during the five-year
period from 2008 to 2012. Since 2008, total one-time and projected five-year cost
savings and revenue increases are approximately $209 million. The cumulative costs of
operating the Auditor General’s Office since 2008 have been $19.1 million. In simple
terms, for every $1 invested in the Auditor General’s Office the return on this investment
has been approximately $11.

The identification of cost savings and increased revenues is only one component of the
role of the Auditor General. Equally important is the ongoing evaluation of internal
controls, risk management, and governance processes. However, the benefits of audits of
this nature are not quantifiable in financial terms.