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Iowa State Auditor

New (7/2013) May separate Municipal Utilities choose to have an audit instead of an examination?

Yes. Separate Municipal Utilities may have an audit performed for any fiscal year in lieu of an annual or periodic examination. Likewise, separate Municipal Utilities located in a City subject to periodic examinations may choose to have an annual examination performed.

Separate Municipal Utilities may not choose to have an examination in lieu of an audit when an audit is required. Likewise, separate Municipal Utilities may not choose to have a periodic examination in lieu of an annual examination when an annual examination is required.

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