Sec. 32-282. Audits of regional corporations receiving grants.
Sec. 32-282. Audits of regional corporations receiving grants. Each regional
corporation receiving a grant under section 32-267 shall annually have a full audit conducted of the books and accounts of the regional corporation for the preceding fiscal
year to ensure conformity of all aspects of financial assistance transactions with the
substantive and procedural provisions of sections 32-271 to 32-284, inclusive, and shall
submit the audit report to the authority. Each such audit shall be conducted by an independent certified public accountant. If the authority finds instances of substantive noncompliance by a regional corporation with any of the provisions of said sections and
such instances were, or should have been, known to be in noncompliance, the regional
corporation shall be obligated to return, within a reasonable time, upon demand by the
authority, any funds that were used in such instances. The authority may withhold further
payments to the regional corporation until such time as the regional corporation is in
full compliance with all of the provisions of sections 32-266 to 32-284, inclusive.
(P.A. 92-236, S. 23, 48.)