HB338 Summary

• Amends Section 11-43B-9 of the Code of Alabama 1975 regarding Class IV municipalities' audit requirements.

• Removes the restriction that prohibited the same accountant from conducting a municipality's audit for more than three consecutive fiscal years.

• Requires Class IV municipalities to continue hiring a reputable, disinterested certified public accountant to audit books and accounts at the end of each fiscal year.

• Maintains requirements that a summary of the annual audit report be published in a newspaper of general circulation and submitted by the mayor to the council.

• Becomes effective on October 1, 2024.