N.J. Admin. Code § 7:26I-5.5

Current through Register Vol. 57, No. 1, January 6, 2025

Section 7:26I-5.5 - Outcome of an audit

(a) Upon conclusion of its review, the Audit Review Team shall determine whether the LSRP's submissions and conduct have met the standards in N.J.A.C. 7:26I-5.4(i).

(b) Upon determining that the LSRP has met the standards in N.J.A.C. 7:26I-5.4(i), the Audit Review Team shall report to the Audit Committee:

1. The name of the LSRP audited;

2. The Audit Review Team's findings; and

3. A recommendation that the audit review is complete.

(c) Upon receiving a recommendation that an audit review is complete, the Audit Committee shall determine to:

1. Conclude the audit; or

2. Refer the audit back to the Audit Review Team for further review.

(d) Upon the Audit Committee's determination that the audit is concluded:

1. The Audit Committee shall report to the Board the name of the LSRP;

2. The Board shall notify the LSRP of the outcome of the audit; and

3. The Board shall post the LSRP's name and audit outcome on the Board website at www.nj.gov/lsrpboard.

(e) Upon determining that the LSRP has not met the standards in N.J.A.C. 7:26I-5.4(i), the Audit Review Team shall submit a report to the Audit Committee stating:

1. The name of the LSRP audited;

2. The Audit Review Team's findings; and

3. A recommendation that the LSRP be further investigated.

(f) Upon receiving a recommendation that the LSRP be further investigated, the Audit Committee shall file a complaint pursuant to N.J.A.C. 7:26I-7.3.

N.J. Admin. Code § 7:26I-5.5

Adopted by 48 N.J.R. 45(a), effective 1/4/2016

Amended by 55 N.J.R. 2324(b), effective 11/20/2023