North Carolina § 115D-58 - 16. Audits.

§ 115D-58. 16. Audits.

Each community college shall be subject to a financial audit a minimum of once every two years. Community colleges may use State funds to contract with the State Auditor or with a certified public accountant to perform the audits. The colleges shall submit the results of the audits to the State Board of Community Colleges. The State Board of Community Colleges may require a community college to be audited annually after the community college has two consecutive financial audits with findings. Notwithstanding the provisions of Chapter 143D of the General Statutes, a community college shall not be subject to the EAGLE program administered by the Office of the State Controller unless (i) there is a finding of internal control problems in the most recent financial audit of the college or (ii) the State Board of Community Colleges determines that a college should be subject to the program. The State Board of Community Colleges shall ensure that all colleges are audited in accordance with this section. History (2011-145, s. 8.15; 2013-360, s. 10.15(b); 2018-92, s. 1(c).) Effect of Amendments. - Session Laws 2013-360, s. 10.15(b), effective July 1, 2013, substituted "be subject to a financial audit" for "be audited" in the first sentence in subsection (a). Session Laws 2018-92, s. 1(c), effective June 25, 2018, added the last sentence in subsection (a).