Texas Education Code 43.068 – Annual Audit
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(a) Not less than once each year, the board of directors shall submit to the Legislative Budget Board an audit report regarding the operations of the corporation.
(b) The corporation may contract with a certified public accountant or the state auditor to conduct an independent audit of the operations of the corporation.
Terms Used In Texas Education Code 43.068
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) This section does not affect the state auditor’s authority to conduct an audit of the corporation in accordance with Chapter 321, Government Code.