Class IV municipalities; audits, restrictions on hiring accountant removed

SB 164 removes a restriction in Alabama law that previously prevented Class IV municipalities (small towns) from hiring the same certified public accountant to conduct their annual financial audits for more than three consecutive years. The bill amends Section 11-43B-9 of the Alabama Code to eliminate this three-year limit, allowing these municipalities to retain the same auditor without time restrictions. This change directly affects small Alabama towns by simplifying their audit process and potentially reducing costs associated with frequent auditor changes. The bill does not alter audit requirements or reporting standards, only the continuity rule for the accounting firm conducting the audit.