An Act To Require an Independent Audit of State Government Every 4 Years

Sec. 1. 5 MRSA §1547-A  is enacted to read:

§ 1547-A.  Independent audit of State Government

Beginning in January 2009 and every 4 years thereafter, the State Controller shall contract with an independent qualified auditor that is not employed by the Department of Audit or the Department of Administrative and Financial Services to conduct a complete financial audit of the State Government, as defined in section 1541, subsection 11, for the previous fiscal year ending June 30th. The audit must be conducted in accordance with generally accepted governmental auditing standards and must be completed by June 30th of the year in which the audit is undertaken.

SUMMARY

This bill requires the State Controller within the Department of Administrative and Financial Services to contract with an independent auditor to conduct a single fiscal year financial audit of the State Government every 4 years beginning in 2009.