§ 35-20-6 Annual report. – (a) To ensure that the requirements of this section are fully complied with,each public corporation shall prepare and submit a report on the adequacy ofthe corporation's systems of internal accounting and administration control byDecember 31 of each year.
(b) The report, including the state agency's response toreport recommendations, shall be signed by the chairperson and/or the chiefexecutive officer of the corporation and addressed to the governor. Copies ofthe reports shall be forwarded to both houses of the legislature, the auditorgeneral, and the director. Copies of these reports shall also be forwarded tothe state library where they shall be available for public inspection.
(c) By September 30, 1995, the director, in consultation withthe auditor general and the controller, shall establish a system of reportingand a general framework to guide the public corporations in performingevaluations on their systems of internal accounting and administrative control.The director, in consultation with the auditor general and the controller, maymodify the format for the report or the framework for conducting theevaluations from time to time as deemed necessary.
(d) Any material inadequacy or material weakness in systemsof internal accounting and administrative control which prevents the chairand/or chief executive officer of the corporation from stating that the systemsof internal accounting and administrative control provided reasonable assurancethat each of the objectives specified above was achieved shall be identifiedand the plans and schedule for correcting the inadequacy described in detail.
(e) The annual report of each public corporation shall alsoinclude financial statements relating to the operation, properties, income,expenditure, assets, and liabilities, including outstanding bondedindebtedness, of the corporation.
§ 35-20-6 Annual report. – (a) To ensure that the requirements of this section are fully complied with,each public corporation shall prepare and submit a report on the adequacy ofthe corporation's systems of internal accounting and administration control byDecember 31 of each year.
(b) The report, including the state agency's response toreport recommendations, shall be signed by the chairperson and/or the chiefexecutive officer of the corporation and addressed to the governor. Copies ofthe reports shall be forwarded to both houses of the legislature, the auditorgeneral, and the director. Copies of these reports shall also be forwarded tothe state library where they shall be available for public inspection.
(c) By September 30, 1995, the director, in consultation withthe auditor general and the controller, shall establish a system of reportingand a general framework to guide the public corporations in performingevaluations on their systems of internal accounting and administrative control.The director, in consultation with the auditor general and the controller, maymodify the format for the report or the framework for conducting theevaluations from time to time as deemed necessary.
(d) Any material inadequacy or material weakness in systemsof internal accounting and administrative control which prevents the chairand/or chief executive officer of the corporation from stating that the systemsof internal accounting and administrative control provided reasonable assurancethat each of the objectives specified above was achieved shall be identifiedand the plans and schedule for correcting the inadequacy described in detail.
(e) The annual report of each public corporation shall alsoinclude financial statements relating to the operation, properties, income,expenditure, assets, and liabilities, including outstanding bondedindebtedness, of the corporation.
§ 35-20-6 Annual report. – (a) To ensure that the requirements of this section are fully complied with,each public corporation shall prepare and submit a report on the adequacy ofthe corporation's systems of internal accounting and administration control byDecember 31 of each year.
(b) The report, including the state agency's response toreport recommendations, shall be signed by the chairperson and/or the chiefexecutive officer of the corporation and addressed to the governor. Copies ofthe reports shall be forwarded to both houses of the legislature, the auditorgeneral, and the director. Copies of these reports shall also be forwarded tothe state library where they shall be available for public inspection.
(c) By September 30, 1995, the director, in consultation withthe auditor general and the controller, shall establish a system of reportingand a general framework to guide the public corporations in performingevaluations on their systems of internal accounting and administrative control.The director, in consultation with the auditor general and the controller, maymodify the format for the report or the framework for conducting theevaluations from time to time as deemed necessary.
(d) Any material inadequacy or material weakness in systemsof internal accounting and administrative control which prevents the chairand/or chief executive officer of the corporation from stating that the systemsof internal accounting and administrative control provided reasonable assurancethat each of the objectives specified above was achieved shall be identifiedand the plans and schedule for correcting the inadequacy described in detail.
(e) The annual report of each public corporation shall alsoinclude financial statements relating to the operation, properties, income,expenditure, assets, and liabilities, including outstanding bondedindebtedness, of the corporation.
