senate Bill S4501A

2011-2012 Legislative Session

Requires the metropolitan transportation authority to contract with a certified public accountant for an independent forensic audit of such authority

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to transportation
Apr 27, 2011 print number 4501a
amend and recommit to transportation
Apr 07, 2011 referred to transportation

S4501 - Details

Current Committee:
Law Section:
Public Authorities Law
Laws Affected:
Add §1265-c, Pub Auth L

S4501 - Summary

Requires that an independent comprehensive, forensic audit be conducted upon the metropolitan transportation authority; provides that the results thereof shall be sent to the governor, the comptroller and legislative leaders.

S4501 - Sponsor Memo

S4501 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4501

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              April 7, 2011
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Transportation

AN ACT to amend the public authorities law, in relation to directing the
  metropolitan transportation authority to contract for the provision of
  an independent forensic audit of such authority; and providing for the
  repeal of such provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  public  authorities  law  is amended by adding a new
section 1265-c to read as follows:
  S 1265-C. INDEPENDENT FORENSIC AUDIT.  1.  NOTWITHSTANDING  ANY  OTHER
PROVISION  OF  LAW, THE AUTHORITY SHALL, WITHIN SIXTY DAYS OF THE EFFEC-
TIVE DATE OF THIS SECTION, CONTRACT WITH A CERTIFIED  PUBLIC  ACCOUNTING
FIRM  FOR THE PROVISION OF AN INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT
OF THE AUTHORITY. SUCH AUDIT  SHALL  BE  PERFORMED  IN  ACCORDANCE  WITH
GENERALLY  ACCEPTED  GOVERNMENT  AUDITING STANDARDS. SUCH AUDIT SHALL BE
INDEPENDENT OF AND IN ADDITION TO THE INDEPENDENT AUDIT OF THE AUTHORITY
CONDUCTED PURSUANT TO SECTION TWENTY-EIGHT HUNDRED TWO OF THIS CHAPTER.
  2. THE CERTIFIED INDEPENDENT  PUBLIC  ACCOUNTING  FIRM  PROVIDING  THE
AUTHORITY'S  INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT SHALL BE PROHIB-
ITED IN PROVIDING AUDIT SERVICES IF THE  LEAD  (OR  COORDINATING)  AUDIT
PARTNER  (HAVING  PRIMARY  RESPONSIBILITY  FOR  THE AUDIT), OR THE AUDIT
PARTNER  RESPONSIBLE  FOR  REVIEWING  THE  AUDIT,  HAS  PERFORMED  AUDIT
SERVICES  FOR  THE AUTHORITY WITHIN ANY OF THE TEN PREVIOUS FISCAL YEARS
OF THE AUTHORITY.
  3. THE CERTIFIED INDEPENDENT  ACCOUNTING  FIRM  PERFORMING  THE  AUDIT
PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PERFORMING ANY NON-AU-
DIT SERVICES FOR THE AUTHORITY CONTEMPORANEOUSLY WITH THE AUDIT.
  4.  IT  SHALL  BE  PROHIBITED  FOR  THE  CERTIFIED  INDEPENDENT PUBLIC
ACCOUNTING FIRM TO PERFORM FOR THE AUTHORITY ANY AUDIT  SERVICE  IF  THE
CHIEF  EXECUTIVE  OFFICER,  COMPTROLLER,  CHIEF FINANCIAL OFFICER, CHIEF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10719-01-1

Co-Sponsors

S4501A (ACTIVE) - Details

Current Committee:
Law Section:
Public Authorities Law
Laws Affected:
Add §1265-c, Pub Auth L

S4501A (ACTIVE) - Summary

Requires that an independent comprehensive, forensic audit be conducted upon the metropolitan transportation authority; provides that the results thereof shall be sent to the governor, the comptroller and legislative leaders.

S4501A (ACTIVE) - Sponsor Memo

S4501A (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4501--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              April 7, 2011
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Transportation --  commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee

AN ACT to amend the public authorities law, in relation to directing the
  metropolitan transportation authority to contract for the provision of
  an independent forensic audit of such authority; and providing for the
  repeal of such provisions upon expiration thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  public  authorities  law  is amended by adding a new
section 1265-c to read as follows:
  S 1265-C. INDEPENDENT FORENSIC AUDIT. 1. THE AUTHORITY  SHALL,  WITHIN
SIXTY DAYS OF THE EFFECTIVE DATE OF THIS SECTION, CONTRACT WITH A CERTI-
FIED PUBLIC ACCOUNTING FIRM FOR THE PROVISION OF AN INDEPENDENT, COMPRE-
HENSIVE,  FORENSIC AUDIT OF THE AUTHORITY. SUCH AUDIT SHALL BE PERFORMED
IN ACCORDANCE WITH GENERALLY  ACCEPTED  GOVERNMENT  AUDITING  STANDARDS.
SUCH  AUDIT  SHALL  BE INDEPENDENT OF AND IN ADDITION TO THE INDEPENDENT
AUDIT OF  THE  AUTHORITY  CONDUCTED  PURSUANT  TO  SECTION  TWENTY-EIGHT
HUNDRED TWO OF THIS CHAPTER.
  2.  THE  CERTIFIED  INDEPENDENT  PUBLIC  ACCOUNTING FIRM PROVIDING THE
AUTHORITY'S INDEPENDENT, COMPREHENSIVE, FORENSIC AUDIT SHALL BE  PROHIB-
ITED  IN  PROVIDING  AUDIT  SERVICES IF THE LEAD (OR COORDINATING) AUDIT
PARTNER (HAVING PRIMARY RESPONSIBILITY FOR  THE  AUDIT),  OR  THE  AUDIT
PARTNER  RESPONSIBLE  FOR  REVIEWING  THE  AUDIT,  HAS  PERFORMED  AUDIT
SERVICES FOR THE AUTHORITY WITHIN ANY OF THE TEN PREVIOUS  FISCAL  YEARS
OF THE AUTHORITY.
  3.  THE  CERTIFIED  INDEPENDENT  ACCOUNTING  FIRM PERFORMING THE AUDIT
PURSUANT TO THIS SECTION SHALL BE PROHIBITED FROM PERFORMING ANY NON-AU-
DIT SERVICES FOR THE AUTHORITY CONTEMPORANEOUSLY WITH THE AUDIT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10719-02-1

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