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II.A. Audits 


ADMINISTRATIVE POLICY TYPE: FISCAL MANAGEMENT


POLICY TITLE: Audits


The books and accounts of the district shall be audited in accordance with Section 38.04(11)(b), Wis. Stats., by an independent auditing firm, selected by the district board, in conformance with the prescribed requirements and standards set forth by the Wisconsin Technical College System State Board.

The audit shall be in accordance with Generally Accepted Accounting Principles (GAAP), Generally Accepted Auditing Standards, Wisconsin Statutes, WTCS Administrative Rules, and the WTCS Financial Accounting Manual. The audit, when completed, shall be presented to the district board, with a management letter addressing district compliance with board policies, for examination and appropriate action.

The district shall file copies of the audit with the WTCS State Board as prescribed by statutes and any federal or state agencies as required by the Federal and State Single Audit Acts.


NOTE: Annual board review.



Adopted: 01/20/69
Reorganized: 06/24/97
Reviewed: 03/16/06
Revised: 03/16/06


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   Sarah Bingham

   Last Modified:
   8/6/2012 12:49:39 PM