STATE OF NEW YORK
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3962
2017-2018 Regular Sessions
IN SENATE
January 31, 2017
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Introduced by Sen. SEWARD -- read twice and ordered printed, and when
printed to be committed to the Committee on Education
AN ACT to amend the education law, in relation to the school district
internal audit function
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 1 of section 2116-b of the education law, as
2 added by chapter 263 of the laws of 2005, is amended to read as follows:
3 1. No later than July first, two thousand six, each school district
4 shall establish an internal audit function to be in operation no later
5 than the following December thirty-first. Such function shall include:
6 (a) development of a risk assessment of district operations, including
7 but not limited to, a review of financial policies and procedures and
8 the testing and evaluation of district internal controls; (b) [an annu-
9 al] a biennial review and update of such risk assessment; and (c) prepa-
10 ration of reports, at least annually or more frequently as the trustees
11 or board of education may direct, which analyze significant risk assess-
12 ment findings, recommend changes for strengthening controls and reducing
13 identified risks, and specify timeframes for implementation of such
14 recommendations.
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07960-01-7
