Senate Bill S2640

2019-2020 Legislative Session

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Transportation Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-S2640 (ACTIVE) - Details

Current Committee:
Senate Transportation
Law Section:
Public Authorities Law
Laws Affected:
Add §1265-c, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4637
2013-2014: S2482
2015-2016: S3835
2017-2018: S6303
2021-2022: S4924
2023-2024: S4190

2019-S2640 (ACTIVE) - Summary

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit of such authority.

2019-S2640 (ACTIVE) - Sponsor Memo

2019-S2640 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2640
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2019
                                ___________
 
 Introduced  by  Sen.  LANZA  -- 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 the 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:
   § 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 AND AT ITS OWN EXPENSE, 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 FROM 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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