Iowa State Auditor

Examination Requirements

What is the Municipal Oversight law?

Does the Municipal Oversight law require all Cities to be audited?

What is the difference between an examination and an audit?

What is the effective date for annual and/or periodic examinations?

How do I know whether my City is required to have an annual examination or a periodic examination?

May Cities choose to have an audit instead of an examination?

Are there specific examination procedures to be performed, and are these required procedures or simply suggestions?

Are there other resources available pertaining to annual and/or periodic examinations?

Some Cities have separate Boards/Departments with separate accounts, such as the Library or Fire Department. Should these separate Boards/Departments be included in the scope of City examinations?

If a City has a single audit, is it still required to have a City examination?

If a City has a program specific audit, is it still required to have a City examination?

What if I have other questions about these new examination requirements?

Should potential component units be evaluated in accordance with the reporting entity criteria prescribed in GASB Statements 14, 39 and 61 for possible inclusion in the scope of City examinations?

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