State auditor; local governments to request and receive in certain circumstances due date extensions related to filing annual audits; provide

Replaced the committee's introductory statement with a formal header identifying the document as a committee substitute and listing the bill's sponsors.

The expenditure threshold triggering mandatory annual audits was raised from $550,000 to $2.5 million.

A new 'special purpose framework' was created for smaller local governments to conduct audits every two years instead of annually.

Simplified 'agreed upon procedures' reports and special purpose framework reports are now officially recognized as valid annual audit reports.

New provisions allow for the temporary withholding of compensation from constitutional county officers who fail to assist counties in meeting audit requirements.

The Department of Community Affairs is authorized to assist local governments in preparing reports and may charge reasonable fees for this assistance.