Bureau announces five-year audit schedule

PROVIDENCE – The R.I. Bureau of Audits last month announced the first five-year schedule of audits of the state’s quasi-public agencies.
Passed in 2014, the new law is intended to hold Rhode Island’s quasi-public agencies to a higher standard and to show a commitment to transparency, accountability and efficacy in government, according to a news release. As a result, the law establishes rules and responsibilities for board members of the various quasi-public bodies, including mandatory performance audits of each agency beginning this year and every five years thereafter.
The first five-year audit schedule of the quasi-public corporations was released at the end of December by the Bureau of Audits, which will undertake the reviews. The schedule is:
• 2015: R.I. Tobacco Settlement Financing Corporation, R.I. Convention Center Authority, R.I. Health and Educational Building Corporation and R.I. Turnpike and Bridge Authority.
• 2016: I-195 Redevelopment District Commission, Quonset Development Corporation, R.I. Resource Recovery Corporation and R.I. Water Resources Board.
• 2017: R.I. Clean Water Finance Agency, R.I. Industrial Facilities Corporation and R.I. Public Transit Authority.
• 2018: Capitol Center Commission, Narragansett Bay Commission, R.I. Higher Education Assistance Authority and R.I. Student Loan Authority.
• 2019: R.I. Airport Corporation, R.I. Housing and Mortgage Finance Corporation, R.I. Industrial-Recreational Building Authority and R.I. Small Business Loan Fund Corporation. •

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