Minn. R. 4525.0550 - FORMAL AUDITS

Subpart 1. Formal audit.

The purpose of a formal audit is to ensure that all information included in the report or statement being audited is accurately reported. The fact that the board is conducting a formal audit does not imply that the subject of the audit has violated any law.

Subp. 2. Respondent's rights.

The executive director must send to each respondent a draft of any negative or adverse findings related to that respondent before the board considers adoption of the final audit report. The respondent has the right to respond in writing to the draft findings . The respondent must be given an opportunity to be heard by the board prior to the board's decision regarding the draft audit report.

Subp. 3. Final audit report.

At the conclusion of a formal audit, the board must issue a final audit report. The final report must identify the subject of the audit and must include the following:

A. the name of the primary board employee responsible for conducting the audit;
B. a description of the scope of the audit;
C. any findings resulting from the audit;
D. a description of any responses to the findings that the subject of the audit provides; and
E. a description of the manner in which any findings were resolved.

The final audit report may not include any information related to audits that is classified as confidential under Minnesota Statutes, chapter 10A


Minn. R. 4525.0550
39 SR 83, July 28, 2014 effective 7/28/2014; 39 SR 757

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