4-11-7. Audit by private accountant--Acceptance in lieu of required audit.
Nothing contained in this chapter prevents a public corporation from employing a private accountant to examine and audit the books and accounts thereof or of any of its officers if the governing body or authorized official believes that the public interest requires it, and if such employment is first approved by the auditor-general. No private audit may be paid for before a copy thereof is filed with and approved by the auditor-general. The entity receiving audit services may approve progress payments proportionate to the audit work completed so long as ten percent of the amount billed is withheld pending approval by the auditor-general of the final report. The auditor-general may accept such audit in lieu of an examination otherwise required to be made by the auditor-general.
Source: SL 1943, ch 258, §7; SDC Supp 1960, §55.2907; SL 1966, ch 165, §8; SL 1981, ch 32, §1; SL 2011, ch 2, §111.
Structure South Dakota Codified Laws
Title 4 - Public Fiscal Administration
Chapter 11 - Post-Audit Of Accounts
Section 4-11-2 - Annual audit of state accounts--Scope.
Section 4-11-2.1 - Charitable or nonprofit corporations to comply with certain audit requirements.
Section 4-11-3 - Special audit of state accounts on Governor's order--Report of audit.
Section 4-11-4.1 - Internal control review for certain municipalities.
Section 4-11-7 - Audit by private accountant--Acceptance in lieu of required audit.
Section 4-11-7.1 - School district audit by private auditing firm.
Section 4-11-7.2 - Publication of school district audit results.
Section 4-11-8 - Period of transactions covered by audit--Exceptions.
Section 4-11-9 - Reports of audits--Place of filing.
Section 4-11-10 - Contents of audit reports.
Section 4-11-11 - Filing of audit reports--Open to public inspection.
Section 4-11-13 - Copies of audit reports received in evidence.
Section 4-11-14 - Civil action to recover misappropriated funds disclosed by audit report.
Section 4-11-15 - Notice to attorney general of civil actions--Compromise of actions.
Section 4-11-17 - Attorney general to assist and supervise prosecutions.
Section 4-11-19 - Deposit and crediting of reimbursed amounts.
Section 4-11-20 - Audit of vouchers, claims, and accounts of Department of Legislative Audit.
Section 4-11-21 - Confidential identity of person supplying information to department.