Sec. 30. (a) An
audited entity may request that an examination conducted by the
state board of accounts be conducted in accordance with generally accepted accounting principles. A request by a
public officer must be approved by resolution adopted by the legislative body for the audited
entity.
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Terms Used In Indiana Code 5-11-1-30
- audited entity: has the meaning set forth in Indiana Code 5-11-1-16
- entity: means any provider of goods, services, or other benefits that is:
Indiana Code 5-11-1-16
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- public officer: means any individual who holds, receives, disburses, or is required by law to keep any account of public funds or other funds for which the individual is accountable by virtue of the individual's public office. See Indiana Code 5-11-1-16
- state: means any board, commission, department, division, bureau, committee, agency, governmental subdivision, military body, authority, or other instrumentality of the state, but does not include a municipality. See Indiana Code 5-11-1-16
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(b) The state board of accounts shall, not more than sixty (60) days after receiving a request under subsection (a):
(1) acknowledge receipt of the request; and
(2) notify the requesting public officer or legislative body that the request is:
(A) approved; or
(B) disapproved.
(c) The state board of accounts shall approve a request under subsection (a) unless the state examiner determines that:
(1) the audited entity, under the guidelines established by the state board of accounts, did not request the audit within sixty (60) days after the close of the audited entity’s fiscal year;
(2) the audited entity does not conduct its accounting according to generally accepted accounting principles;
(3) the audited entity did not maintain the audited entity’s financial records during the preceding year on a generally accepted accounting principles basis;
(4) the annual financial statements and notes to the financial statements are not presented or will not be presented to the state board of accounts for audit on the schedule agreed to by the state examiner; or
(5) the audited entity does not follow the other guidelines established by the state board of accounts.
As added by P.L.181-2015, SEC.18.