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Business and Economics

State Board of Accounts Flexibility Bill Passes Senate

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February 3, 2015 — TheStatehouseFile.com

INDIANAPOLIS – The State Board of Accounts could soon receive greater authority to determine the frequency of audits it conducts if legislation passed by the Indiana Senate on Monday becomes law.

Senate Bill 326, authored by Sens. Randy Head, R-Logansport, and Doug Eckerty, R-Yorktown, would provide the SBOA with an increased ability to undertake financial reviews of state and local government entities – determined by risk-based criteria established by the Audit and Financial Reporting subcommittee.

Head said the bill is an important step for the state’s main accountability organization because the General Assembly has “cut their budget significantly,” and it would allow the agency to “audit and receive the results faster to better address problem areas.”

The proposed legislation would also allow an executive or fiscal officer of a government unit to establish a fraud hotline for the public to use to report suspected fraudulent activity of officers or employees of that unit. The identity of callers who use the hotline and any recorded audio from the conversation would be exempt from public disclosure.

The bill passed the Senate 43-1 and now moves to the House for further consideration.

 

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