2006 Michigan Compiled Laws - Mich. Comp. Laws § 141.425 Local units; audits.
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Act 2 of 1968 141.425 Local units; audits. Sec. 5. (1) A local unit having a population of less than 4,000 shall obtain an audit of its financial records, accounts, and procedures not less frequently than biennially. However, if any audit under this subsection discloses a material deviation by the local unit from generally accepted accounting practices or from applicable rules and regulations of a state department or agency or discloses any fiscal irregularity, defalcation, misfeasance, nonfeasance, or malfeasance, the department of treasury may require an audit to be conducted in the next year. (2) A local unit having a population of 4,000 or more shall obtain an annual audit of its financial records, accounts, and procedures.
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