Bill > S2095

This bill aims to improve the internal controls within state agencies. It does this by: 1. Amending Chapter 7A of the General Laws to require the Comptroller, in consultation with the State Auditor, to publish regulations to establish reporting requirements and internal control standards for state agencies. It also requires each agency to have an official responsible for ensuring the agency has documented internal control systems and for evaluating their effectiveness annually. 2. Amending Chapter 11 of the General Laws to require all unaccounted-for variances, losses, shortages, intentional violations, or thefts to be immediately reported to the State Auditor's office, who will review the matter and make recommendations to the agency. The agency must then implement policies and procedures to prevent recurrence. 3. Requiring Commonwealth authorities that do not receive direct state appropriations, but are subject to audit under Chapter 11, to comply with the internal control requirements in Chapter 7A. 4. Updating a reference in Chapter 12 to refer to the new internal control requirements in Chapters 7A and 11.

Budget and Finance, Government Affairs

https://malegislature.gov/Bills/192/S2095