In a previous issue of Footnotes, we discussed the current practices of the Indiana State Board of Accounts (“SBoA”) with regard to performing audits and their emphasis on the separation of auditing from bookkeeping.  As a result of both the Sarbanes-Oxley Act and in an effort to catch up on required audits, the SBoA has temporarily implemented changes to their audit schedules.  It will be vitally important for local governments to have its financial information complete and in the correct format prior to the auditor’s arrival. In this issue, we discuss the impact of these developments on your municipal utilities.

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