Oklahoma § 19-171 - Audit by State Auditor and Inspector - Scope of audit County government financial audits

§ 19-171. Audit by State Auditor and Inspector - Scope of audit County government financial audits

Oklahoma Statutes - Title 19. Counties and County Officers

A. Each county of this state shall every two (2) years have an

audit made by the State Auditor and Inspector or a duly appointed

deputy or deputies of all of the books, records and accounts of all

the officers of each county of this state, which audit shall be

general in its nature and shall include an audit of the books,

records and accounts of all officers who collect or disburse monies,

fees, fines or public charges of any kind including therein a tax

roll audit, a claim audit, and an audit of each of the justices of

peace within the county.

B. 1. For purposes of this subsection, an audit shall be a

financial or performance audit defined as follows:

a.

the financial audit shall be planned and conducted,

and the results of the work reported, in accordance

with auditing standards generally accepted in the

United States and Government Auditing Standards issued

by the Comptroller General of the United States,

b.

the performance audit shall be planned and conducted,

and the results of the work reported, in accordance

with Government Auditing Standards issued by the

Comptroller General of the United States. The

performance audit shall encompass an audit of internal

controls and compliance with laws and regulations

based on an individual risk assessment.

The type of audit to be performed will be determined by the State

Auditor and Inspector.

2. Unless the county elects to prepare its financial statement

in accordance with Generally Accepted Accounting Principles as

prescribed by the Governmental Accounting Standards Board, the

county shall present their financial statements in a regulatory

basis of accounting as prescribed in subsection C of this section.

C. 1. For county, primary government only, financial audits,

the financial statements shall be presented on a fund-basis format

with, at a minimum, the general fund and all other county funds

which represent ten percent (10%) or greater of total county

revenue. All other funds included in the audit shall be presented

in the aggregate.

2. The financial statements shall include but not be limited to

the following:

a.

a statement of revenues or receipts, expenditures or

disbursements, and changes in cash balances for the

funds identified in the preceding paragraph, and

b.

notes to the financial statements.

D. The report shall include but not be limited to the following

supplemental information:

1. A combining schedule detailing by fund the information

presented in the aggregate;

Oklahoma Statutes - Title 19. Counties and County Officers

2. A comparison of the final adopted budget to the actual

expenditures for all funds required by law to have an adopted

budget; and

3. Notes to the budget to actual schedule.

E. An audit may include a performance audit, a financial audit,

agreed-upon procedures, or limited review of the books and records.

In addition to the above, the State Auditor and Inspector may

require an audit of the books and records of any county official or

custodian of any of the funds of the county upon the death,

resignation or removal from office of the county official, covering

a period from the date of the last general audit up to the date of

the death, resignation or removal therefrom.

F. Each biennial county audit shall cover the two preceding

fiscal years beginning as of July 1st immediately preceding the year

in which the appropriation is made for the general audit, provided,

that nothing herein shall prevent the State Auditor and Inspector

from causing an audit to be made for any prior year of all the

books, records and accounts of the county official.

Added by Laws 1933, c. 40, p. 77, § 1, emerg. eff. May 2, 1933.

Amended by Laws 1979, c. 30, § 69, emerg. eff. April 6, 1979; Laws

2007, c. 132, § 2, eff. Nov. 1, 2007; Laws 2011, c. 18, § 1, eff.

July 1, 2011.