Virginia Code 62.1-227: Annual audit
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The Auditor of Public Accounts, or his legally authorized representatives, shall annually audit the accounts of the Authority, and the cost of such audit services as shall be required shall be borne by the Authority. The audit shall be performed at least each fiscal year, in accordance with generally accepted auditing standards and, accordingly, include such tests of the accounting records and such auditing procedures as considered necessary under the circumstances. The Authority shall furnish copies of such audit to the Governor and to the Board.
Terms Used In Virginia Code 62.1-227
- Authority: means the Virginia Resources Authority created in Chapter 21 of Title 62. See Virginia Code 62.1-224
- Board: means the State Water Control Board. See Virginia Code 62.1-224
- 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.
1986, c. 415.