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Texas Government Code - GOV'T § 845.107. Audits and Reviews

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) In this section:

(1) “Audit” means an audit authorized or required by a statute of this state or of the United States or initiated or commissioned by the board of trustees.  The term includes a financial audit, compliance audit, economy and efficiency audit, effectiveness audit, performance audit, risk audit, and investigation.

(2) “Audit working paper” includes all information, documentary or otherwise, prepared or maintained in conducting an audit or preparing an audit report, including:

(A) internal or external communications relating to the audit that are made or received in the course of the audit;  and

(B) drafts of an audit report or portions of those drafts.

(b) Annually, or more often, the board of trustees shall have the accounts of the retirement system audited by a certified public accountant.

(c) In addition to the financial audit required by Subsection (b), the board of trustees may initiate or commission an audit or investigation of activities, functions, or operations of the retirement system as the board determines appropriate.

(d) Audit working papers prepared, maintained, or assembled by the retirement system or an agent of the system are not a record of the board of trustees for purposes of Section 845.112, and are confidential and excepted from the disclosure requirements of Chapter 552.

(e) Unless made confidential under other law, an audit report, when accepted by the board of trustees in its final form, is a record of the board and public information.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 845.107. Audits and Reviews - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-845-107/

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