Louisiana Administrative Code
Title 28 - EDUCATION
Part LXXXIII - Bulletin 111-The Louisiana School, District, and State Accountability System
Chapter 49 - School District Academically in Crisis
Section LXXXIII-4907 - The Financial Audit and Contracting an Independent CPA

Universal Citation: LA Admin Code LXXXIII-4907

Current through Register Vol. 50, No. 9, September 20, 2024

A. The district school board of a district Academically in Crisis shall select and contract an independent, licensed, certified public accountant from a list of at least three such accountants submitted to the board by the superintendent to conduct an audit of the finances and the financial policies and practices of the school district.

1. The district school board shall make its selection within 10 working days of receipt of the superintendent's list.

2. If the selection is not made within 10 days, the district superintendent shall refer the matter to the legislative auditor who shall select the independent, licensed, certified public accountant to complete the required audit.

3. The audit shall be conducted using generally accepted governmental auditing standards and the Louisiana Governmental Audit Guide.

4. The engagement agreement describing the scope of the audit shall be submitted to legislative auditor for his review and comment to the district school board prior to the execution of the agreement.

B. The audit report shall be submitted to the district school board, the district superintendent, and the legislative auditor.

C. If the audit results in audit findings, the district superintendent shall address each audit finding and report to the legislative auditor on the corrections made.

D. The legislative auditor may take any of the following steps:

1. conduct an independent audit of the district school board;

2. investigate the response of the superintendent to the audit;

3. require the selection of a different auditor as described in Paragraph 1 above and have the new auditor direct the changes in the district's financial practices necessary to address each audit finding.

E. Expenses incurred by the legislative auditor shall be reimbursed by the district school system.

F. If the audit reveals irregularities, they may be reported to:

1. the district attorney with jurisdiction in the parish in which the school district resides; or

2. the appropriate US attorney when the irregularities may be a violation of federal law.

AUTHORITY NOTE: Promulgated in accordance with R.S. 17:10.1.

Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.