§ 20-2015-A. Annual audit
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: July 13, 2005
Effective: July 13, 2005
24 P.S. § 20-2015-A
§ 20-2015-A. Annual audit
(a) The activities of the system under this article shall be subject to the audit of the Department of the Auditor General, but the system shall not be required to pay a fee for any such audit. It shall make an annual report to the State board and to the General Assembly showing its condition at the end of the Commonwealth's fiscal year.
(b) The system shall report its financial statements in accordance with generally accepted accounting principles as prescribed by the National Association of College and University Business Officers, the American Institute of Certified Public Accountants or any other recognized authoritative body, as well as applicable policy and standards promulgated by the Commonwealth and the Federal Government.
Credits
1949, March 10, P.L. 30, No. 14, art. XX-A, § 2015-A, added 1982, Nov. 12, P.L. 660, No. 188, § 2, effective July 1, 1983. Amended 2005, July 13, P.L. 226, No. 46, § 17, imd. effective.
24 P.S. § 20-2015-A, PA ST 24 P.S. § 20-2015-A
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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