The bill amends the Code of West Virginia to transfer the audit authority for volunteer fire companies from the Auditor to the West Virginia Legislative Auditor. The Legislative Auditor is tasked with conducting regular financial reviews of each volunteer fire company, ensuring that audits or financial examinations occur at least once every five years. The bill allows for more frequent audits if there are concerns about potential loss, mismanagement, or misuse of funds.

Additionally, the Legislative Auditor's examination will encompass all income, assets, liabilities, and expenditures of the volunteer fire companies. The bill also stipulates that the Legislative Auditor must implement internal policies regarding the costs associated with these audits, which may be borne by the Legislative Auditor or recouped from the volunteer fire companies. Furthermore, if any concerning financial transactions are discovered, the Legislative Auditor is required to request the State Auditor to investigate and address any misconduct or mismanagement.

Statutes affected:
Introduced Version: 8-15-7a
Committee Substitute: 8-15-7a