40A:5A-15 - Annual audit - New Jersey Statutes

40A:5A-15.  Annual audit
    Notwithstanding the provisions of N.J.S. 40A:5-1 et seq., each authority shall cause an annual audit of its accounts to be made, and for this purpose it  shall contract with the Division of Local Government Services or employ a registered municipal accountant of New Jersey or a certified public accountant of New Jersey.  The audit shall be completed and filed with the authority within four months after the close of the fiscal year of the authority.  A certified duplicate copy thereof shall be filed with the governing body of each  local unit having created the authority and with the director within five days  after the original report is filed with the authority.  The Local Finance Board  shall by rule or regulation prescribe the accounting principles and policies,  auditing procedures, and financial reporting practices applicable to  authorities and authority audits conducted pursuant to this section.  The rules  and regulations may include or be similar to any provisions of the  "Local  Fiscal Affairs Law" , (N.J.S. 40A:5-1 et seq.,) which the Local Finance Board  shall deem to be practicable or necessary.

     L.1983, c. 313, s. 15.