Bill > S2448

This bill establishes a new performance audit division within the Office of the Auditor General (OAG) to enhance oversight of state programs and expenditures, aiming to improve their economy, efficiency, and effectiveness. The division will be responsible for creating an annual plan to identify which state agencies and contractors receiving state or federal funds will be audited, conducting these audits according to Generally Accepted Government Auditing Standards (GAGAS), and publishing public reports detailing their findings and recommendations. The bill also mandates that audited entities submit corrective action plans within 60 days of receiving a report, and the OAG will monitor their implementation, referring any potential violations of law or significant financial harm to the Attorney General. This initiative is intended to complement existing internal oversight within agencies and is seen as a fiscally responsible investment, with national studies suggesting performance audits can yield significant returns in savings and avoided costs. The act will take effect upon its passage.

Budget and Finance

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