SOP 406.21: Independent Financial Audit

Division:
Administrative & Finance
Effective Date:
July 1, 2020
Topic Area:
406 Policy-Administration and Finance
PowerDMS:
View on PowerDMS
Length:
130 words

Summary

This policy establishes the requirement for independent financial audits of the Georgia Department of Corrections as mandated by state statute. The Department of Audits and Accounts is responsible for conducting audits of all state institutions, and no state official may hire any other auditing agency. This policy ensures compliance with financial oversight and accountability requirements.

Key Topics

  • independent financial audit
  • financial audit
  • auditing requirements
  • Department of Audits and Accounts
  • financial oversight
  • accounting compliance
  • state institutions audit
  • financial accountability
  • audit procedures

Full Text

|GEORGIA DEPARTMENT OF CORRECTIONS
Standard Operating Procedures|Col2|Col3|
|---|---|---|
|Policy Name:Independent Financial Audit|Policy Name:Independent Financial Audit|Policy Name:Independent Financial Audit|
|Policy Number:406.21|Effective Date:7/1/2020|Page Number: 1 of 1|
|Authority:
Commissioner|Originating Division:
Administration and Finance
Division|Access Listing:
Level I: All Access|

I. Introduction and Summary:

An independent financial audit is required by statute.

II. Authority:

A. O.CGA § 50-6-3;

B. ACA Standards: 2-CO-1B-07, 2-CO-1B-13, 1-CTA-1B-07, 5-ACI-1B-12 (ref. 4
4036), and 4-ACRS-7D-24 .

III. Definitions:

None.

IV. Statement of Policy and Applicable Procedures:

The Department of Audits and Accounts shall audit all state institutions. No official
of the state shall have authority to employ or hire any other auditing agency.

V. Attachments:

None.

VI. Record Retention of Forms Relevant to this Policy:

None.

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