Texas Statutes
Chapter 321 - State Auditor
Section 321.0131. Financial Audit

Sec. 321.0131. FINANCIAL AUDIT. A financial audit is an audit to determine:
(1) in the case of the state or a department, whether the records, books, and accounts of the audited entity accurately reflect its financial and fiscal operations;
(2) whether the audited entity is maintaining effective accounting control over revenues, obligations, expenditures, assets, and liabilities;
(3) whether the accounting and record-keeping of collections of state revenues and receipts by the audited entity are fair, accurate, and in accordance with law;
(4) whether the accounting and record-keeping of money or negotiable securities or similar assets handled by the audited entity on behalf of the state or received from the state and held in trust by the audited entity are proper, accurate, and in accordance with law; and
(5) whether financial, program, and statistical reports of the audited entity are fairly presented.
Added by Acts 1987, 70th Leg., ch. 862, Sec. 6, eff. Aug. 31, 1987.

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