Nevada Revised Statutes 353A.025 – Periodic review; biennial report of compliance by agency; biennial report of status of accounting and controls in agencies by Director
1. The head of each agency shall periodically review the agency’s system of internal accounting and administrative control to determine whether it is in compliance with the uniform system of internal accounting and administrative control for agencies adopted pursuant to subsection 1 of NRS 353A.020.
Terms Used In Nevada Revised Statutes 353A.025
- Agency: means every agency, department, division, board, commission or similar body, or elected officer, of the Executive Branch of the State. See Nevada Revised Statutes 353A.010
- Committee: means the Executive Branch Audit Committee created pursuant to Nevada Revised Statutes 353A.010
- Director: means the Director of the Office of Finance. See Nevada Revised Statutes 353A.010
- Internal accounting and administrative control: means a method through which agencies can safeguard assets, check the accuracy and reliability of their accounting information, promote efficient operations and encourage adherence to prescribed managerial policies. See Nevada Revised Statutes 353A.010
2. On or before July 1 of each even-numbered year, the head of each agency shall report to the Director whether the agency’s system of internal accounting and administrative control is in compliance with the uniform system adopted pursuant to subsection 1 of NRS 353A.020. The reports must be made available for inspection by the members of the Legislature.
3. For the purposes of this section, ‘agency’ does not include:
(a) A board created by the provisions of NRS 590.485 and chapters 623 to 625A, inclusive, 628, 630 to 644A, inclusive, 648, 654 and 656 of NRS.
(b) The Nevada System of Higher Education.
(c) The Public Employees’ Retirement System.
(d) The Housing Division of the Department of Business and Industry.
(e) The Colorado River Commission of Nevada.
4. The Director shall, on or before the first Monday in February of each odd-numbered year, submit a report on the status of internal accounting and administrative controls in agencies to the:
(a) Director of the Legislative Counsel Bureau for transmittal to the:
(1) Senate Standing Committee on Finance; and
(2) Assembly Standing Committee on Ways and Means;
(b) Governor; and
(c) Legislative Auditor.
5. The report submitted by the Director pursuant to subsection 4 must include, without limitation:
(a) The identification of each agency that has not complied with the requirements of subsections 1 and 2;
(b) The identification of each agency that does not have an effective method for reviewing its system of internal accounting and administrative control; and
(c) The identification of each agency that has weaknesses in its system of internal accounting and administrative control, and the extent and types of such weaknesses.