What are the audit requirements for volunteer fire relief associations?
Volunteer fire relief associations with assets or liabilities of at least $500,000 must have an annual audit performed in accordance with generally accepted auditing standards of their financial statements that are prepared in conformity with generally accepted accounting principles.
Volunteer fire relief associations with assets and liabilities of less than $500,000 must have their annual financial reporting form attested to by a certified public accountant in accordance with agreed-upon procedures prescribed by the Office of the State Auditor.
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