For Immediate Release: February 19th, 2013
Senator French Seeks Audit of Auditors at Department of Revenue
JUNEAU – Senator Hollis French (D-Anchorage) submitted a formal request to the Legislative Budget and Audit Committee asking for a legislative audit to examine the auditing backlog of almost five years at the Department of Revenue on oil tax receipts.
“As we again discuss major oil tax revisions, Department of Revenue auditors are still five years behind in their examinations of tax receipts,” stated Senator French, “without the context of fully audited tax returns under ACES and PPT, it becomes problematic to discuss the large scale changes proposed in SB 21.”
The legislative audit requested should specifically identify the impediments causing the Department of Revenue audit backlog. If deficiencies do exist, the audit would offer recommendations on professional staff qualifications and best industry practices necessary to complete audits in a timely fashion, so that revenue impacts of future tax changes are accurately portrayed to the Legislature and public in a timely manner.
“Given the importance of oil revenue to the State’s finances and the apparent delay in completing the audits, it seems prudent to be highly vigilant in our oversight of this area,” said Senator French.
For more information, contact Cindy Smith at (907) 465-6641 or email Cindy.Smith@akleg.gov