|Posted:||March 18, 2019 03:26 PM|
|From:||Representative Francis X. Ryan|
|To:||All House members|
|Subject:||LEGISLATION: Auditing Standards of Municipal Authorities|
In the near future, I plan on introducing legislation that will amend the Municipal Authorities Act to increase the auditing standards that Municipal Authorities must comply with. Currently, Authorities have to complete an annual audit, but there is no definite set of guidelines as to what the Audit must look like.
This legislation would give authorities a set of standard guidelines that require an increased standard of fiscal review for the hired CPA’s to follow when completing the annual audit. Additionally, it will also address a commonly heard concern relating to the ability of the Auditor General to review authorities.
Furthermore this legislation will allow the municipality that created the authority to request assistance from the Auditor General’s office to complete an independent audit of the authority.
Please join me in sponsoring this important piece of legislation.
Introduced as HB1203