Tennessee § 7-57-402 - Annual audit.
Full text of Tennessee Tennessee Code Annotated § 7-57-402 — Annual audit., with citation guidance and answers to common questions.
§ 7-57-402. Annual audit.
Any hospital authority created by and under this chapter shall conduct an annual audit of the financial affairs, books and records of such authority, the audit to be at the end of each fiscal year. Each hospital authority shall obtain either a certified public accountant or a firm of certified public accountants to conduct such audit. The auditor so appointed shall make the audit provided for in this section in accordance with generally accepted accounting principles, and shall submit the complete and final report and audit to such authority not later than ninety (90) days after the close of the fiscal year. All audits provided for in this section shall be certified to and shall include, but in no way be limited to, a full and complete audit containing a balance sheet, profit and loss statement and statement of receipts and disbursements, and shall certify whether or not the authority has operated within its approved annual operating budget and capital budget. Acts 1971, ch. 316, § 16; T.C.A., § 6-4019. Cross-References. Failure to comply with audit requirements, § 7-57-404 .
Frequently Asked Questions About Tennessee § 7-57-402
What does Tennessee Code Annotated § 7-57-402 cover?
Section 7-57-402 ("Annual audit.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 7-57-402?
A common citation format is "Tennessee Code Annotated § 7-57-402" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 7-57-402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.