HB412: relative to reporting of corrective action implementation of audit findings by entities subject to an audit by the legislative budget assistant.

HB 412 - AS INTRODUCED

2015 SESSION

15-0060

10/01

HOUSE BILL 412

AN ACT relative to reporting of corrective action implementation of audit findings by entities subject to an audit by the legislative budget assistant.

SPONSORS: Rep. Oligny, Rock 34; Rep. Weyler, Rock 13; Rep. Major, Rock 14; Rep. Pantelakos, Rock 25; Rep. P. Schmidt, Straf 19; Rep. Flanagan, Hills 26; Rep. Abrami, Rock 19; Rep. K. Rice, Hills 37; Rep. Seidel, Hills 28; Sen. Avard, Dist 12; Sen. Carson, Dist 14

COMMITTEE: Finance

ANALYSIS

This bill requires an entity which is subject to an audit performed by the audit division of the office of legislative budget assistant to comply with biannual reporting requirements for corrective action implementation for audit findings, and requires the department of administrative services, bureau of financial reporting, to biannually summarize the status of such corrective actions and post the summary on the state transparency website.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

15-0060

10/01

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fifteen

AN ACT relative to reporting of corrective action implementation of audit findings by entities subject to an audit by the legislative budget assistant.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 New Paragraph; Legislative Budget Assistant; Audits; Corrective Action Implementation. Amend RSA 14:31-a by inserting after paragraph II the following new paragraph:

III. Each state department, board, institution, commission, or agency entity which is subject to an audit performed by the audit division of the office of legislative budget assistant pursuant to paragraph I, shall report to the department of administrative services, bureau of financial reporting, an estimated completion date for corrective action implementation for open items and a closure rationale for closed items in such audit, for the purpose of the biannual reporting requirements for corrective action implementation of audit findings provided in RSA 21-I:8, II(c)(2).

2 Department of Administrative Services; Financial Reporting; Performance Audit Corrective Action. Amend RSA 21-I:8, II(c) to read as follows:

(c)(1) Cooperating with the office of legislative budget assistant by assisting, as necessary, any state department, board, institution, commission, or agency, in the preparation of financial statements in a manner consistent with generally accepted accounting principles when such entity is subject to an audit performed by the audit division of the office of legislative budget assistant pursuant to RSA 14:31-a, I.

(2) Biannually summarizing by agency, the status (open or closed) of all audit findings with an estimated completion date for corrective action implementation for open items and a closure rationale for closed items in an audit performed by the audit division of the office of legislative budget assistant pursuant to RSA 14:31-a, I. Said summary shall be provided to the governor for concurrence or appropriate action, and subsequently posted on the state transparency website under RSA 9-f.

3 Effective Date. This act shall take effect 60 days after its passage.