2018 Tennessee Code
Title 4 - State Government
Chapter 3 - Creation, Organization and Powers of Administrative Departments and Divisions
Part 54 - Tennessee Sports Hall of Fame Act of 1994
§ 4-3-5405. Annual reports -- Audit.

(a) All annual reports and all books of accounts and financial records of the hall of fame shall be subject to audit annually by the comptroller of the treasury. With prior approval of the comptroller of the treasury, the audit may be performed by a licensed independent public accountant selected by the hall of fame. If an independent public accountant is employed, the audit contract between the hall of fame and the independent accountant shall be on contract forms prescribed by the comptroller of the treasury. The cost of any audit shall be paid by the hall of fame.

(b) The comptroller of the treasury shall ensure that audits are prepared in accordance with generally accepted governmental auditing standards and determine if the audits meet minimum audit standards prescribed by the comptroller of the treasury. No audit may be accepted as meeting the requirements of this section until approved by the comptroller of the treasury.

(c) One (1) copy of each audit shall be furnished to each member of the board of the hall of fame and one (1) copy shall be furnished to the comptroller of the treasury.

(d) The comptroller of the treasury, or the comptroller's designated representative, shall have access to the hall of fame's books, records and accounts whenever deemed necessary by such person.