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Financial statements and audit - 74 Pa. Cons. Stat. § 1752

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     § 1752.  Financial statements and audit.
        (a)  Statement.--As soon after the end of each fiscal year as
     is feasible, the board shall cause to be prepared and printed a
     report and financial statement of the authority's operations for
     the previous year and of its assets and liabilities prepared in
     accordance with generally accepted accounting principles. A
     reasonably sufficient number of copies of the report shall be
     printed for distribution to persons interested, upon request. A
     copy of the report shall be filed with the Secretary of the
     Commonwealth, the county clerk of each county in the
     metropolitan area and the clerk of each municipality which has
     granted rights to the authority by ordinance, and a copy of the
     report shall be addressed to and mailed to the mayor and city
     council or the governing body of the municipality. The board
     from time to time shall mail, to the persons and offices
     specified, copies of the interim financial reports as may be
     prepared by the authority, copies of all bylaws, rules and
     regulations and amendments thereto and copies of the annual
     financial budgets.
        (b)  Audit.--The board shall appoint in due time each year a
     firm of independent certified public accountants as auditors who
     shall examine the books, records and accounts, operations and
     assets and liabilities of the authority for the purpose of
     auditing and reporting upon its financial statements for such
     year. The auditors shall audit the books, records, accounts,
     operations and assets and liabilities of the authority in
     accordance with generally accepted auditing standards. The
     report of the auditors shall be appended to the financial
     statement.

Last modified: November 27, 2007