Business Audit Defence. Legal news and articles for May 17 - 23, 2017

State audit rips Union County financial practicesUPDATE: South Louisiana law firm hired to audit Country Place UtilitiesLegislative Auditor: Jeanerette utilities mismanagedNew Partnership Audit Rules and How They May Affect Tax-Exempt PartnersSpecial Audit In Joint Stock CompaniesSC's new ethics law flawed, critics saySC's new ethics law flawed, critics say$1.2 million pay at Charlotte area agency came without required approval, audit saysNC Audit Faults Cardinal Innovations For Excessive CEO Pay, Lavish TripsTribune-Star Editorial: New law puts public officials on notice$1.2 million pay for government employees came without required state approval, says NC auditStenger calls for audit of the way St. Louis County awards road and bridge contractsOpelousas Mayor Reggie Tatum speaks out after audit says he “may” have broke the lawWEDC audit finds improvements in handling of state funds, but problems persistAudit Faults Empire State Development Reporting

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New Partnership Audit Rules and How They May Affect Tax-Exempt Partners
The National Law ReviewMay 22, 2017

While the clarifying Treasury Regulations are currently withdrawn, the partnership rules passed by the Bipartisan Budget Act of 2015 will apply to returns filed for partnership tax years beginning after December 31, 2017 regardless of whether the ...more »

Gina Lopez insists mining industry audit a well-circulated DENR ...
GMA NewsMay 16, 2017

Former Environment Secretary Gina Lopez on Tuesday said the industry-wide audit conducted by the Department of Environment and Natural Resources that ...more »

Business Audit Defence. News and Stories

State audit rips Union County financial practices
The GleanerMay 23, 2017

State Auditor Mike Harmon released the audit of the Union County Fiscal Court for the fiscal year ended June 30, 2015. State law requires annual audits of county fiscal courts. Accompanying the audit report was a statement about the murkiness of the ...more »

UPDATE: South Louisiana law firm hired to audit Country Place Utilities
KTALMay 23, 2017

HAUGHTON-- - Louisiana Public Service Commissioner, Foster Campbell, has moved forward in his investigation into Haughton-based Country Place Utilities. A firm in Covington, Louisiana has been hired to audit Country Place Utilities. Commissioner ...more »

Legislative Auditor: Jeanerette utilities mismanaged
KATC Lafayette NewsMay 22, 2017

The problems with the water system - which has posted huge losses in the past several years - have contributed to the financial problems Jeanerette is having, the audit states. It's possible that employees may have violated state law by trying to help ...more »

New Partnership Audit Rules and How They May Affect Tax-Exempt Partners
The National Law ReviewMay 22, 2017

While the clarifying Treasury Regulations are currently withdrawn, the partnership rules passed by the Bipartisan Budget Act of 2015 will apply to returns filed for partnership tax years beginning after December 31, 2017 regardless of whether the ...more »

Special Audit In Joint Stock Companies
Mondaq News Alerts (registration)May 22, 2017

As per article 438 of the TCC, in order for a shareholder to request a special audit, that shareholder or any shareholder of the company should have duly consumed its "right to information and examination". This is a ... that in order for the court to ...more »

SC's new ethics law flawed, critics say
The HeraldMay 20, 2017

Four Republican state legislators have been accused of public corruption since 2014. None was called out by the legislative committees that were charged with overseeing the behavior of lawmakers. Now, a new ethics law is in effect, aiming to restore ...more »

SC's new ethics law flawed, critics say
The StateMay 19, 2017

Requiring random or “real-time” auditing of campaign bank accounts also would discourage misbehavior, both say. While no law compels them to conduct reviews, House and Senate ethics watchdogs say they already are auditing filings. State Sen.more »

$1.2 million pay at Charlotte area agency came without required approval, audit says
Charlotte ObserverMay 19, 2017

Under state law, Cardinal would have had to get approval from the state personnel office and give reasons why its CEOs should get more than the maximum. The audit says the state can seek reimbursement of the $1.2 million Cardinal has paid in ...more »

NC Audit Faults Cardinal Innovations For Excessive CEO Pay, Lavish Trips
WFAEMay 19, 2017

Hoarding $70 million in Medicaid money that should be spent on patients while spending lavishly on CEO pay and luxury board retreats. These are just some of the findings laid out in a state audit of Cardinal Innovations Healthcare. The company says the ...more »

Tribune-Star Editorial: New law puts public officials on notice
Terre Haute Tribune StarMay 19, 2017

The law allows the SBOA's state examiner to relay findings to the General Assembly Audit Committee, which has a variety of tools to stir the audited entity to fix the deficits. Those remedies include essentially shaming the unit by publishing a notice ...more »

$1.2 million pay for government employees came without required state approval, says NC audit
News & ObserverMay 18, 2017

Under state law, Cardinal would have had to get approval from the state personnel office and give reasons why its CEOs should get more than the maximum. The audit says the state can seek reimbursement of the $1.2 million Cardinal has paid in ...more »

Stenger calls for audit of the way St. Louis County awards road and bridge contracts
STLtoday.comMay 18, 2017

Stenger's call for a state audit carries no legal weight. The state auditor must audit some state government bodies on a regular basis under state law and is required to launch audits after receiving a formal request from the governor or a citizen ...more »

Opelousas Mayor Reggie Tatum speaks out after audit says he “may” have broke the law
FOX 15May 18, 2017

Tonight, Opelousas Mayor Reggie Tatum is speaking out about an audit released by the Louisiana Legislative Auditor that says he “may” have violated state law. During the August floods Tatum received almost 12 thousand dollars in overtime pay from the ...more »

WEDC audit finds improvements in handling of state funds, but problems persist
The Courier Life NewsMay 17, 2017

Regarding the $5.3 million in tax credit refunds it didn't turn over to the state, Hogan said the agency planned on turning them over by June 30. State law requires agencies that receive funds must do so within a week, but WEDC as a public-private ...more »

Audit Faults Empire State Development Reporting
New York Law Journal (registration)May 17, 2017

A new audit from New York state Comptroller Thomas DiNapoli is criticizing Gov. Andrew Cuomo's economic development agency for failing to meet more than half of the reporting requirements for its highly touted tax credit and job creation programs.more »

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