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Thursday, November 5, 2015

Don't Forget Audit Disclosure Requirements

Many local governments are finishing up their annual audits, and we wanted to again remind you of new state law disclosure obligations for municipalities and counties. 

P.A. 98-0738, effective January 1, 2015, requires the auditor conducting the municipal or county audit to provide a copy of any management letter and audited financial statements to each member of the corporate authorities within 60 days of the close of the audit. The auditor is also required to present the audit information to the corporate authorities either in person or electronically at a public meeting. Municipalities and counties with websites must post this information on their websites, in addition to other filing and disclosure requirements already in effect (i.e., filing an electronic copy with the state comptroller). 

Post Authored by Julie Tappendorf


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