Code of Maryland Regulations
Title 13A - STATE BOARD OF EDUCATION
Subtitle 02 - LOCAL SCHOOL ADMINISTRATION
Chapter 13A.02.07 - Annual Audits of Financial Statements and Federal Awards
Section 13A.02.07.07 - Fraudulent Acts
Universal Citation: MD Code Reg 13A.02.07.07
Current through Register Vol. 51, No. 19, September 20, 2024
A. If the auditor becomes aware of any fraudulent acts, the auditor shall promptly notify the local superintendent of schools and prepare a separate written report.
B. The local superintendent of schools shall promptly notify the Department of the fraudulent acts and any actions taken or proposed.
C. Fraudulent acts include:
(1) Fraudulent financial reporting;
(2) Misappropriations of funds or other assets; and
(3) Conflicts of interest.
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