Sec. 14.39.02.26. Audits

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A. The IAC or its designee may conduct financial audits and compliance audits of each LEA that receives State funds.

B. Audit items may include:

(1) Transactions and balances reported on financial reports and close-out forms;

(2) LEA internal controls and management authorizations;

(3) Items ineligible for State participation; and

(4) Compliance with 'IAC regulations and IAC policies and procedures.

C. The LEA shall reconcile audit exceptions and back charges to the IAC's or its designee's satisfaction.

                    
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