Indiana § 36-10-16-24 - Annual financial audit
Full text of Indiana Indiana Code § 36-10-16-24 — Annual financial audit, with citation guidance and answers to common questions.
§ 36-10-16-24. Annual financial audit
Sec. 24. (a) The state board of accounts shall, pursuant to IC 5-11-1-7 and IC 5-11-1-24, allow the commission to contract with a certified public accountant for an annual financial audit of the commission. The certified public accountant may not have a significant financial interest in a project, facility, or service funded by or leased by or to the commission. The certified public accountant selected by the commission must be approved by the state examiner and is subject to the direction of the state examiner while performing an annual financial audit under this chapter.
(b) The certified public accountant shall present an audit report not later than four (4) months after the end of each calendar year and shall make recommendations to improve the efficiency of the commission's operations. The certified public accountant shall also perform a study and evaluation of internal accounting controls and shall express an opinion on the controls that were in effect during the audit period.
(c) The commission shall pay the cost of the annual financial audit under subsection (a). In addition, the state board of accounts may at any time conduct an audit of any phase of the operations of the commission. The commission shall pay the cost of any audit by the state board of accounts.
(d) The state board of accounts may waive the requirement that a certified public accountant perform an annual financial audit of the commission for a particular year if the commission certifies to the state board of accounts that the commission had no financial activity during that year.
As added by P.L.141-2025, SEC.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 36-10-16-24
What does Indiana Code § 36-10-16-24 cover?
Section 36-10-16-24 ("Annual financial audit") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-10-16-24?
A common citation format is "Indiana Code § 36-10-16-24" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-10-16-24 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.