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14-234-119. Annual audits and procedures.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-234-119. Annual audits and procedures.
(a)(1) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing sewage services shall obtain an annual financial audit of the system if the system has at least seven hundred fifty (750) service connections during a fiscal year.
(2) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing water services shall obtain an annual financial audit of the system if the system has at least one thousand (1,000) service connections during a fiscal year.
(b)(1)(A) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing sewage services and having at least one hundred (100) but less than seven hundred fifty (750) service connections during a fiscal year shall obtain an annual audit or an annual agreed-upon procedures and compilation report.
(B) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing water services and having at least one hundred (100) but less than one thousand (1,000) service connections during a fiscal year shall obtain an annual audit or an annual agreed-upon procedures and compilation report.
(2) The agreed-upon procedures and compilation report engagement shall be conducted in accordance with standards established by the American Institute of Certified Public Accountants and subject to minimum procedures prescribed by the Legislative Joint Auditing Committee.
(c) The audits or agreed-upon procedures and compilation reports shall be completed within one (1) year following each system's fiscal year end.
(d) Each entity s
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-234-119
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-234-119
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9022ed38485b31308f4d7b38279c291a2742cba55b9c55387c4af036bbd6945d
Source location: content.xml paragraph 48210
Stored source content
14-234-119. Annual audits and procedures.
(a)(1) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing sewage services shall obtain an annual financial audit of the system if the system has at least seven hundred fifty (750) service connections during a fiscal year.
(2) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing water services shall obtain an annual financial audit of the system if the system has at least one thousand (1,000) service connections during a fiscal year.
(b)(1)(A) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing sewage services and having at least one hundred (100) but less than seven hundred fifty (750) service connections during a fiscal year shall obtain an annual audit or an annual agreed-upon procedures and compilation report.
(B) A county, municipality, improvement district, or not-for-profit association or entity receiving fees from customers for providing water services and having at least one hundred (100) but less than one thousand (1,000) service connections during a fiscal year shall obtain an annual audit or an annual agreed-upon procedures and compilation report.
(2) The agreed-upon procedures and compilation report engagement shall be conducted in accordance with standards established by the American Institute of Certified Public Accountants and subject to minimum procedures prescribed by the Legislative Joint Auditing Committee.
(c) The audits or agreed-upon procedures and compilation reports shall be completed within one (1) year following each system's fiscal year end.
(d) Each entity shall choose and employ accountants who are licensed and in good standing with the Arkansas State Board of Public Accountancy.
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