Section Rev 1904.03 - Locally Elected Municipal Auditors(a) A municipality, except a solid waste management district, may rely on locally elected municipal auditors provided a financial statement audit is not required by another law, regulation, or contract.(b) If the municipality relies on locally elected municipal auditors, the following shall apply: (1) Locally elected municipal auditors shall not be required: a. To have formal training in auditing procedures; orb. To meet the standards of the Government Auditing Standards or the Single Audit Act;(2) Locally elected municipal auditors shall not be used when the local governmental unit expends federal assistance in excess of $500,000, unless those auditors meet the requirements in Governmental Auditing Standards or the Single Audit Act;(3) Locally elected municipal auditors discovering, during their examination of the accounts of various municipal officials pursuant to RSA 41:31-a through 41:31-d, that the local governmental unit expended federal assistance in excess of $500,000 shall notify the governing body the federal government requires an audit be performed as outlined in Rev 1904.02(b); and(4) Locally elected municipal auditors furnishing their report of audit to the municipality: a. Shall use Form MS-60, "Local Auditor Report", as prescribed by the commissioner for reviewing accounts and for reporting to the municipality and to the department.b. Shall not use the language of the independent public accountant's report or imply that their report meets any other national standard, unless the locally elected municipal auditor(s) is also a certified public accountant or a public accountant licensed by the state under RSA 309-B and follows the requirements of Rev 1904.02.N.H. Admin. Code § Rev 1904.03
#6732, eff 4-18-98; ss by #8599, eff 4-6-06; ss by #9826, eff 11-25-10; ss by #10582, eff 5-2-14