US Laws, Codes, Statutes & Cases

 
    §  95.  Annual audit. a. The city, in accordance with subdivision b of
  this section and section ninety-seven of this chapter, shall  take  such
  action  as  may  be  necessary to enable an independent certified public
  accounting firm or consortium of such firms to perform an  annual  audit
  in  accordance with generally accepted auditing standards and to furnish
  to the city, in accordance with  subdivision  b  of  this  section,  the
  report on such audit prepared by such firm or consortium of firms, which
  report  shall  include  an  opinion  as  to whether the city's financial
  statements have been prepared  in  accordance  with  generally  accepted
  accounting  principles  and  shall  state  whether  the  audit  of  such
  financial statements was made  in  accordance  with  generally  accepted
  auditing  standards.  The  city  shall make available for inspection and
  copying all books, records, work papers and other data and  material  as
  required  by such auditors, and officers and employees of the city shall
  be made available to, and shall cooperate with, such auditors so  as  to
  permit  such  annual  audit to be completed and the report issued within
  four months after the close of the city's fiscal year.
    b. The annual audit described in subdivision a of this  section  shall
  be made by a firm or firms of certified public accountants, as set forth
  in  such  subdivision,  selected  by  the audit committee. Copies of the
  annual audit shall be submitted  to  the  mayor,  the  comptroller,  the
  council  and  the  state  comptroller and shall be published in the City
  Record. No audit engagement contract  pursuant  to  this  section  shall
  exceed four years.