Maryland § 10-132
Full text of Maryland Maryland Code § 10-132, with citation guidance and answers to common questions.
§ 10-132.
(a) (1) As soon as practical after the close of the fiscal year, an independent certified public accountant shall audit the financial books, records, and accounts of the Corporation.
(2) The audit shall include revenue and expense detail for each of the operating facilities of the Corporation.
(3) The Corporation shall select an accountant to conduct the audit who:
(i) is licensed to practice accountancy in the State;
(ii) is experienced and qualified in the accounting and auditing of public entities; and
(iii) does not have a direct or indirect personal interest in the fiscal affairs of the Corporation.
(4) (i) Except as provided in subparagraph (ii) of this paragraph, on or before November 1 after each fiscal year, the accountant shall report the results of the audit, including the accountant’s unqualified opinion of the presentation of the financial position of the funds of the Corporation, individual financial detail for each of the operating facilities of the Corporation, and the results of the financial operations of the Corporation.
(ii) If the accountant cannot express an unqualified opinion, the accountant shall explain in detail the reasons for the qualifications, disclaimers, or opinions, including recommendations for changes that could make future unqualified opinions possible.
(b) The State may audit the books, records, and accounts of the Corporation.
Frequently Asked Questions About Maryland § 10-132
What does Maryland Code § 10-132 cover?
Section 10-132 is part of the Maryland Code, the codified statutory law of Maryland. 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 Maryland § 10-132?
A common citation format is "Maryland Code § 10-132" (Maryland). 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 Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-132 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland 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 Maryland.