2 AAC 45.085 - Waiver of audit requirements

(a) No later than 30 days after the due date of an entity's audit, the entity may submit a written request to the commissioner under this section for a waiver of the requirements for an audit under 2 AAC 45.010 for good cause.

(b) A written request submitted under this section must state the reasons for the request for waiver and good cause. Good cause exists under this section if

(1) the financial assistance expended by the entity was under close state agency management and supervision;

(2) an audit will not likely promote the public interest because

(A) the audit will be duplicative of existing audited information;

(B) an alternative source of externally verified information from an independent source provides sufficient assurance that the financial assistance was expended properly.

(c) For the purposes of this section, an entity's lack of funding to purchase an audit is not good cause for waiver of an audit under this section.

(d) No later than 30 days after receiving a written request for a waiver under this section, the commissioner will issue a written decision regarding the request for waiver. The written decision will document the basis for any grant or denial of waiver under this section. The commissioner's decision will be mailed or delivered to the entity and will constitute the final administrative decision on the request.

(e) In this section, "commissioner" means the commissioner of administration.

Notes

2 AAC 45.085

Eff. 1/1/2011, Register 196

Authority:AS 37.05.020

AS 37.05.190