Each State agency shall remit to the State Auditor an amount representing an equitable portion of the expense of contracting with a certified public accounting firm to conduct a portion of the audit of the State's Comprehensive Annual Financial Report prepared by the Comptroller General's Office. Each state agency's equitable portion of the expense must be determined by a schedule developed by the State Auditor. The remittance must be based upon invoices provided by the State Auditor upon completion of the annual audit. The audit must be rebid using a request for proposals no less frequently than every five years.
HISTORY: 2005 Act No. 164, Section 1.
Structure South Carolina Code of Laws
Section 11-7-10. Selection; assistants.
Section 11-7-20. Annual audits of state agencies.
Section 11-7-30. Audit reports.
Section 11-7-45. Guarantee of independence.
Section 11-7-55. Use of services of independent public accountants.
Section 11-7-60. Cost of preparing Comprehensive Annual Financial Report; requests for proposal.