Section 63N-6-405 - Annual audits(1) Each calendar year, an audit of the activities of the Utah fund of funds shall be made as described in this section.(2)(a) The audit shall be conducted by: (i) the state auditor; or(ii) an independent auditor engaged by the state auditor.(b) An independent auditor used under Subsection (2)(a)(ii) must have no business, contractual, or other connection to:(ii) the Utah fund of funds.(3) The corporation shall pay the costs associated with the annual audit.(4) The annual audit report shall: (a) be delivered to: (ii) the state treasurer;(b) include a valuation of the assets owned by the Utah fund of funds as of the end of the reporting year;(c) include an opinion regarding the accuracy of the information provided in the annual report described in Subsection 63N-6-301(6); and(d) be completed on or before September 1 for the previous calendar year so that it may be included in the annual report described in Subsection 63N-6-301(6).Amended by Chapter 298, 2022 General Session ,§ 10, eff. 7/1/2022.Renumbered from § 63M-1-1217 and amended by Chapter 283, 2015 General Session ,§ 210, eff. 5/12/2015.Amended by Chapter 420, 2015 General Session ,§ 7, eff. 5/12/2015.Amended by Chapter 334, 2014 General Session ,§ 5, eff. 5/13/2014.Renumbered and Amended by Chapter 382, 2008 General Session