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Angus Maciver

Financial Audit Model Reform

Legislative Auditor & Division Director

Early in 2022, the Legislative Audit Committee contracted with a consultant on modernizing the overall approach to auditing the state’s accounting records. The last notable change to the state’s financial audit model occurred in 1985, in conjunction with implementation of the federal Single Audit Act of 1984. Since that time, the composition and complexity of the state’s financial activity, and associated statutory and regulatory requirements, changed significantly. Today’s risks are not the same as the risks that existed in 1985.  

In October 2022, we proposed a new risk-based audit model involving a different type of agency oversight. House Bill 132 became effective April 19, 2023, paving the way for the new model. It will include annual, rather than biennial, audits of federal programs (Single Audit). It will also include a comprehensive analysis of state operations, new types of interaction with agency personnel, identification of agencies or programs to audit based on identified risk factors, and potentially new types of audit services. This will be a multi-year project requiring involvement of many parties at both the state and national level.

Project Status Updates occur during regularly scheduled Legislative Audit Committee Hearings. To browse the status materials, clink on the links below:January 2024 


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