Md. Code Regs. 13A.02.07.07

Current through Register Vol. 52, No. 1, January 10, 2025

Section 13A.02.07.07 - Fraudulent Acts

A. If the auditor becomes aware of any fraudulent acts, the auditor shall promptly notify the local superintendent of schools and prepare a separate written report.

B. The local superintendent of schools shall promptly notify the Department of the fraudulent acts and any actions taken or proposed.

C. Fraudulent acts include:

(1) Fraudulent financial reporting;

(2) Misappropriations of funds or other assets; and

(3) Conflicts of interest.

Md. Code Regs. 13A.02.07.07

Regulations .07, Annual Audits of Financial Statements and Federal Assistance Programs, adopted effective April 4, 1988 (15:7 Md. R. 850)