Arkansas Code
Subchapter 4 - Arkansas Legislative Audit
§ 10-4-411. Audits of entities of the state

(a) Except as provided in subdivision (b)(1) of this section, the Legislative Auditor shall audit entities of the state.
(b)
(1)
(A) However, any licensing board or with the approval of the Legislative Joint Auditing Committee any other entity of the state may retain the services of a licensed certified public accountant or a licensed accountant in public practice in good standing with the Arkansas State Board of Public Accountancy to conduct the entity's annual financial audit in accordance with auditing standards generally accepted in the United States and the Government Auditing Standards issued by the Comptroller General of the United States.
(B) The report shall include a report on internal control over financial reporting and on compliance and other matters based on an audit of financial statements performed in accordance with the Government Auditing Standards.

(2) If an annual financial audit of an entity of the state is deemed by the Legislative Auditor as necessary for the audit of the comprehensive annual financial report of the State of Arkansas, then any contract with a private certified public accountant for the entity's annual financial audit shall include provisions requiring the annual financial audit to be completed and filed with Arkansas Legislative Audit by a date determined by the Legislative Auditor.
(3) All reports of the annual financial audit shall be filed with the Legislative Auditor within ten (10) days of issuance of the audit report to the applicable governing body.
(4) Nothing in this subsection limits the authority of the Legislative Auditor to conduct an audit of any entity of the state.

Structure Arkansas Code