AR 6400: Financial Audits

Every five years, the Board of Education shall approve the selection of an auditor who shall be a licensed, certified public accountant, certified as a municipal auditor in the State of Oregon.

An auditing firm’s contract shall be for no longer than five years. The audit shall include all funds under the control or jurisdiction of the college. The audit shall identify all expenditures by the source of funds and shall contain a statement that the audit was conducted pursuant to appropriate standards and procedures and a summary of audit exceptions and management recommendations.

Audit reports for the preceding fiscal year must be presented to the Board of Education. The annual audit statements must be filed with the Oregon secretary of state on or before December 31 of the year the audit is conducted unless an extension is requested.

• 34 Code of Federal Regulations Part 668.23
• NWCCU Standard 2.E.1
• ORS 341.709
• ORS 297.425