§ 5-28-3-2 — Body corporate and politic; examination by independent certified public accounting firm; state board of accounts

Indiana § 5-28-3-2

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 3: Indiana Economic Development Corporation

Text

(a) The corporation is a body politic and
corporate, not a state agency but an independent instrumentality
exercising essential public functions.
(b) Except as provided in IC 5-11-1-9(k), the corporation and the
corporation's funds, accounts, and financial affairs shall be examined
by the state board of accounts.
(c) The board may engage an independent certified public
accounting firm to conduct an examination of:
(1) the corporation and the corporation's funds, accounts, and
financial affairs; and
(2) a nonprofit subsidiary corporation established under IC 5-28-5-13.
The examination must comply with the uniform compliance guidelines,
directives, and standards established by the state board of accounts. If
an independent certified public accounting firm conducts an
examination, the corporation shall submit a copy of the examination
report to the state board of accounts not later than the next date on
which the corporation is required to file its financial reports under IC 5-11-1-4.

Legislative History

As added by P.L.4-2005, SEC.34. Amended by P.L.181-2015, SEC.23; P.L.237-2017, SEC.14; P.L.209-2019, SEC.5; P.L.59-2023, SEC.17; P.L.58-2023, SEC.4.