[Code of Federal Regulations]
[Title 38, Volume 2]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR41.7]

[Page 733-734]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
          CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS (CONTINUED)
 
PART 41--AUDITING REQUIREMENTS--Table of Contents
 
Sec. 41.7  Frequency of audit.

    Audits shall be made annually unless the State or local government 
has, by January 1, 1987, a constitutional or statutory requirement for 
less frequent audits. For those governments, the cognizant agency shall 
permit biennial audits, covering both years, if the government so 
requests. It shall also honor requests for biennial audits by

[[Page 734]]

governments that have an administrative policy calling for audits less 
frequent than annual, but only for fiscal years beginning before January 
1, 1987.

(Authority: Pub. L. 98-502)