Section 16-209 - Independent and County-sponsored audits. - Maryland Statutes

§ 16-209. Independent and County-sponsored audits.
 

(a)  Independent audits.-  

(1) The Montgomery Commission shall provide annually to the county government an audit of each housing project financed by bonds guaranteed by the County. 

(2) The audit shall be done by: 

(i) an independent certified public accountant licensed by the State; or 

(ii) a firm of independent certified public accountants licensed by the State. 

(3) The accountant or firm of accountants shall provide appropriate certified financial statements and a management letter on the financial soundness of the housing project. 

(b)  County-sponsored audits allowed.- The County government may undertake financial and compliance audits on housing projects financed by bonds guaranteed under this subtitle. 
 

[An. Code 1957, art. 44A, § 2-103(a)(5); 2006, ch. 63, § 2.]