PROVIDENCE, R.I. (AP) — The Rhode Island Bureau of Audits has set the first five-year schedule of audits for the state’s quasi-public agencies.
Sen. James C. Sheehan introduced legislation that passed last year to require the audits, to hold these agencies to a higher standard and ensure transparency. Regular audits for quasi-public agencies were not required by statute in the past.
In 2015 the board will audit the Tobacco Settlement Financing Corporation, Convention Center Authority, Health and Educational Building Corporation and the Turnpike and Bridge Authority. Audits will later be conducted for the I-195 Redevelopment District Commission, Quonset Development Corporation, Public Transit Authority and others.
Sheehan says these agencies perform essential government functions and manage significant public resources. He says it’s essential that their decisions and budgets are open to public scrutiny.