5-13-308. Audit standards and objectives. The objectives of audits of state agencies conducted by the legislative auditor are to determine whether:
     (1) the agency is carrying out only those activities or programs authorized by the legislature and is conducting them efficiently and effectively;
     (2) expenditures are made only in furtherance of authorized activities and in accordance with the requirements of applicable laws and regulations;
     (3) the agency collects and accounts properly for all revenues and receipts arising from its activities;
     (4) the assets of the agency or in its custody are adequately safeguarded and controlled and utilized in an efficient manner;
     (5) reports and financial statements by the agency to the governor, the legislature, and central control agencies disclose fully the nature and scope of the activities conducted and provide a proper basis for evaluating the agency's operations.

     History: En. Sec. 9, Ch. 249, L. 1967; Sec. 79-2309, R.C.M. 1947; redes. 79-2311 by Sec. 8, Ch. 367, L. 1974; R.C.M. 1947, 79-2311.