Looking for opinions from CA Counties regarding CA Govt Code 26920. Taken literally, this code states the County Auditor-Controller is supposed to perform a quarterly review of the Treasurer's Statement of Net Assets using SARS and one of the quarters is supposed to be an audit under AICPA audit standards.

I looked at how other counties deal with this code and counties have interepreted this statute differently. Some believe the external auditor's financial statement opinion which covers all the financial statement amounts satisfies the requirements of this code. Other counties have conducted an audit of the Treasurer's Statement of Net Assets.

Any opinions are greatly appreciated.