WAT §60292: (a) The district shall order, review, and maintain on file an independent, audited financial statement not later than 180 days from the conclusion of the district’s fiscal year.

(a) The district shall order, review, and maintain on file an independent, audited financial statement not later than 180 days from the conclusion of the district’s fiscal year. The independent audited financial statement shall be prepared by a certified public accountant or a public accountant, licensed by the California Board of Accountancy. The independent audited financial statement shall be consistent with standards provided in the Generally Accepted Government Auditing Standards prepared by the United States Government Accountability Office. (b) Copies of the independent audited financial statement shall be submitted to the Governor, the Senate Committee on Governance and Finance or its successor, the Assembly Committee on Local Government or its successor, and the California State Auditor on or before December 31 of each year. (1) Copies of the independent audited financial statement shall include, regardless of whether the certified public accountant or public accountant reports separately, including separate reports bound in the same document, any finding or findings involving deficiencies in internal control, fraud, noncompliance with provisions of laws, regulations, contracts, and grant agreements, and abuse. The district shall include its written comments in response to findings that provide the perspectives of the responsible officials of the district and the corrective actions they plan to take. (2) In addition to copies of the independent audited financial statement, the district shall also provide information on expenditures relating to capital improvement projects planned to be undertaken by the district.