(a) The Office of the Inspector General in the Department shall conduct or contract for a financial and compliance audit of each local department at an interval of 4 years unless the Office of the Inspector General determines, on a case-by-case basis, that an audit occur at an interval of 3 years. (b) In determining the audit interval for a local department, the Office of the Inspector General shall take into consideration: (1) the materiality and risk profile of the local department's programs and fiscal activities; (2) the nature and extent of prior audit findings of the local department; and (3) any other factor related to risk. (c) The audit shall comply with the auditing standards issued by the Institute of Internal Auditors. (d) A written report of the audit findings shall be prepared and distributed to: (1) the local board; and (2) the local governing authority.
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