Sec. 5. (1) A local unit having a population of less than 4,000 shall obtain an audit of its financial records, accounts, and procedures not less frequently than biennially. However, if any audit under this subsection discloses a material deviation by the local unit from generally accepted accounting practices or from applicable rules and regulations of a state department or agency or discloses any fiscal irregularity, defalcation, misfeasance, nonfeasance, or malfeasance, the department of treasury may require an audit to be conducted in the next year. (2) A local unit having a population of 4,000 or more shall obtain an annual audit of its financial records, accounts, and procedures.
Mich. Comp. Laws § 141.425
Local units; audits
Applied in 1 court decision — leading case 204 Mich. App. 94 - Wayne County Prosecutor v. City of Detroit (1994)
Most recently applied in 204 Mich. App. 94 - Wayne County Prosecutor v. City of Detroit (March 1994)
1968, Act 2, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.