The accounting records, including internal accounts, of the district shall be audited annually by an independent certified public accountant in accordance with prescribed standards and legal requirements.
The audit report shall be reviewed and approved annually by the board at a public meeting. The management letter and recommendations of the auditor shall be brought to the attention of the board, along with recommendations of the superintendent as to the feasibility of implementing the recommendations. The superintendent shall be responsible for filing the audit reports with all appropriate authorities as prescribed by law or regulation.
The auditing firm selected to conduct the annual audit shall be recommended by the superintendent and approved by the board. The auditing firm may be selected on a bid basis.
LEGAL REF: MCL, 388.1418