CHAPTER 19. ANNUAL AUDIT OF FINANCIAL RECORDS AND REPORTS
IC 4-30-19
Chapter 19. Annual Audit of Financial Records and Reports
IC 4-30-19-1
Authority to contract with a certified public accountant to perform
financial audit
Sec. 1. The budget agency may contract with a certified public
accountant for an annual financial audit of the commission. The
certified public accountant may not have a significant financial
interest, as determined by the commission, in a vendor or retailer
with whom the commission is under contract. The certified public
accountant shall present an audit report not later than seven (7)
months after the end of each fiscal year and shall make
recommendations to enhance the earning capability of the lottery and
to improve the efficiency of commission operations. The certified
public accountant shall perform a study and evaluation of internal
accounting controls and shall express an opinion on the controls that
were in effect during the audit period. The commission shall pay the
cost of the annual financial audit.
As added by P.L.341-1989(ss), SEC.1. Amended by P.L.84-2005,
SEC.1.
IC 4-30-19-2
State board of accounts audit; copies of audits and reports
Sec. 2. The state board of accounts shall conduct an annual audit
of the operations of the lottery and shall receive a copy of any
independent financial audit and any security report prepared under
this article. The commission shall pay the full costs of the audit
required under this section.
As added by P.L.341-1989(ss), SEC.1. Amended by P.L.84-2005,
SEC.2.
IC 4-30-19-3
Submission of copies of audit
Sec. 3. A copy of an audit performed under this chapter shall be
submitted to the director, the commission members, the budget
agency, the governor, and, in an electronic format under IC 5-14-6,
the executive director of the legislative services agency.
As added by P.L.341-1989(ss), SEC.1. Amended by P.L.28-2004,
SEC.51.
IC 4-30-19-4
Reserved
IC 4-30-19-4.2
Revenue and expenditure reports
Sec. 4.2. In addition to the annual audit report required under
section 1 of this chapter, the commission shall submit revenue and
expenditure reports to the budget agency and each legislative
member of the budget committee as requested from time to time.
As added by P.L.32-1990, SEC.12. Amended by P.L.84-2005, SEC.3.