Mich. Comp. Laws § 123.637

Sec. 7. (1) The intermunicipal committee shall obtain an audit of its financial records, accounts, and procedures not less frequently than biennially as determined by the intermunicipal committee. (2) The intermunicipal committee shall submit the results of an audit under subsection (1) to the state treasurer. (3) An audit under subsection (1) shall satisfy all audit requirements set forth in the uniform budgeting and accounting act, 1968 PA 2, MCL 141.421 to 141.440a.