ORS 297.465
Standards for audits

  • form
  • filing
  • extensions of time

(1)

The Secretary of State, in cooperation with the Oregon Board of Accountancy, and in consultation with the Oregon Society of Certified Public Accountants, shall prescribe the minimum standards for conducting audits of municipal corporations, preparing the resulting audit reports and expressing opinions upon the financial condition and results of operation for the period under audit. The expression of opinion shall be signed by the accountant signing the contract, or in the case of a partnership or professional corporation, by a partner or stockholder who is an accountant as defined in ORS 297.405 (Definitions for ORS 297.020, 297.230, 297.405 to 297.740 and 297.990), who has personally conducted the audit to an extent satisfactory to the secretary and to the municipal corporation.

(2)

The municipal corporation shall be furnished with a written audit report, containing a signed expression of opinion, in the form prescribed by the Secretary of State. A copy of the audit report shall be furnished to each person who was a member of the governing body at the end of the calendar or fiscal year and to each member of the current governing body. Other copies shall be furnished the municipal corporation as are requested by the chairperson of the governing body or the managing or executive officer. The accountant shall furnish the audit report to the municipal corporation within six months after the close of the calendar or fiscal year under audit, unless the secretary has granted the municipal corporation an extension under subsection (3) of this section.

(3)

Intentionally left blank —Ed.

(a)

The municipal corporation shall file one copy of its audit report with the Secretary of State within six months after the close of the calendar or fiscal year under audit, unless the secretary, for good cause shown, grants to the municipal corporation a reasonable extension of time. The extension may not exceed one year after the close of the calendar or fiscal year under audit unless the secretary finds that extraordinary circumstances justify a longer extension. A municipal corporation is delinquent for purposes of the filing requirement under this subsection if the municipal corporation does not file the audit report by the deadline or any extended deadline described in this subsection.

(b)

The report is subject to review by the secretary, who may also require submission of the supporting documentation and audit programs of the accountant.

(c)

If an audit, audit report or expression of opinion is found by the secretary not to be in accordance with the prescribed standards, the secretary shall request compliance. If the accountant fails to comply with the request, the secretary shall report the failure to comply to the Oregon Board of Accountancy, which may remove or suspend the name of the accountant from the roster required by ORS 297.670 (Board of Accountancy to prepare and maintain roster).

(4)

Audit reports or financial statements filed with the Secretary of State as required by ORS 297.405 (Definitions for ORS 297.020, 297.230, 297.405 to 297.740 and 297.990) to 297.555 (Short title) shall include the names, mailing addresses and titles of the officers and members of the governing board of the municipal corporation. The report or statement of a special district shall include the name of its registered agent and the address of its registered office as provided by ORS 198.335 (Definitions for ORS 198.335 to 198.365) to 198.365 (County board as trustees for inactive district). [1977 c.774 §8; 1979 c.646 §3; 2007 c.184 §2; 2015 c.29 §2]

Source: Section 297.465 — Standards for audits; form; filing; extensions of time, https://www.­oregonlegislature.­gov/bills_laws/ors/ors297.­html.

297.010
Division of Audits
297.020
Functions and duties of Division of Audits
297.030
Audits, reviews and investigations
297.040
Payment of costs and expenses of audits authorized by ORS 297.030
297.050
Supply of audit reports to Joint Legislative Audit Committee and Legislative Fiscal Officer
297.060
Confidentiality of tax records
297.065
Oversight of performance audits and evaluation by Joint Legislative Audit Committee
297.070
Performance audits
297.076
Audit plans
297.100
Audit information in Governor’s budget
297.103
Audit information in Secretary of State budget
297.110
Definitions for ORS 297.120
297.120
Division of Audits investigation of state agency loss of public funds or property
297.210
Audits of accounts of state agencies and state-aided institutions and agencies
297.230
Estimate and payment of costs and expenses of audits
297.250
Filing of risk assessment or audit by state agency with Division of Audits
297.300
Audit of records related to certain charges paid to nongovernmental entity
297.405
Definitions for ORS 297.020, 297.230, 297.405 to 297.740 and 297.990
297.415
Periodic financial reports required
297.425
Annual audits required
297.435
Exemption from audit
297.445
Petition to audit municipal corporation exempt under ORS 297.435
297.455
Audits by federal government
297.459
Furnishing county audit reports to Department of Revenue
297.465
Standards for audits
297.466
Auditor statement required
297.471
Secretary of State to prepare summary report
297.475
Cancellation of request for Secretary of State assistance
297.485
Filing fees
297.495
Extraordinary costs
297.505
Rules
297.515
County audits include justice courts and law enforcement agencies and officers
297.525
Annual audit of county road work
297.527
City utilities separate municipal corporations
297.530
Subpoena authority of Secretary of State
297.535
Division of Audits Account
297.545
Disposition of Municipal Audit Law filing fees
297.555
Short title
297.670
Board of Accountancy to prepare and maintain roster
297.680
Rules for establishing and maintaining roster
297.701
Persons on roster on August 5, 1959
297.710
Removal of accountant from roster
297.720
Biennial fee of accountants included on roster
297.730
Disposition of fees of board
297.740
Rules of board
297.760
Establishment of local government waste hotline
297.765
Policies and procedures for local government waste hotline
297.990
Penalties
Green check means up to date. Up to date