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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 644 - State Auditor Rules Adoption to Review CPA Firms Audits
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Author:
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Senator Mark W. Koran
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Prepared By:
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Stephanie James, Senate Counsel (651/296-0103)
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Date:
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February 4, 2019
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Section 1 [CPA Firm Audit] establishes a process for the state auditor’s review of county audits performed by a private CPA. The process gives counties and CPA firms an opportunity to respond to the state auditor’s potential findings, conclusions, or questions. The process requires the following:
- the state auditor must give 30 days’ notice before beginning review of a county audit performed by the CPA firm;
- throughout the state auditor’s review of the audit, the county and the CPA firm must be given 30 days to respond to a request from the state auditor for documents or other information;
- the state auditor must provide the CPA firm with a draft report 30 days before issuing a final report;
- the state auditor must hold an exit conference with the CPA firm 20 days before issuing a final report;
- the state auditor must make changes to the draft report when the state auditor determines that changes are warranted as a result of information provided by the CPA firm during the review; and
- the state auditor’s final report must include any written responses provided by the CPA firm.
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