Find Laws Find Lawyers Free Legal Forms USA State Laws

PENNSYLVANIA STATUTES AND CODES

7715 - Audit.

§ 7715. Audit. (a) Procedure.--At the close of each fiscal year, a complete certified audit of the operations of the corporation shall be made by a qualified certified public accountant employed by the board of directors, a written report of which shall include the balance sheet, operating statement, commissions, salaries and other remunerations of directors, officers and employees and other proper information. The audit shall be submitted to the members at the next regular meeting. The annual audit of a corporation with annual gross sales of $100,000 or less may be performed by an audit committee of three or more members of the corporation appointed by the board of directors; however, one of the three members must be a member of the board of directors. The members of the committee need not be certified public accountants or public accountants. (b) Withdrawal of audit and improper audits.--A certified audit may not be withdrawn without approval of the board of directors. The board of directors may seek legal recourse if the audit is conducted improperly.

Pennsylvania Forms by Issue

Pennsylvania Family Forms
Pennsylvania Name Change Forms
Pennsylvania Tax Forms

Pennsylvania Law

Pennsylvania State Laws
    > Pennsylvania Child Support
    > Pennsylvania Statutes
Pennsylvania Tax
    > Pennsylvania State Tax
Pennsylvania Labor Laws
    > Pennsylvania Unemployment
Pennsylvania State
    > Pennsylvania State Police
Pennsylvania Agencies
    > Pennsylvania Department of Revenue
    > Pennsylvania Department of Transportation
    > Pennsylvania DMV
    > Pennsylvania Secretary of State

Pennsylvania Court Map

Tips