New York S 5778: Requires an independent forensic audit of the metropolitan commuter transportation authority

Bill Text

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S05778 Summary:

BILL NOS05778 

&nbsp

SAME ASSAME AS A06088

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SPONSORMURRAY

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COSPNSR

&nbsp

MLTSPNSR

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Add §1265-c, Pub Auth L

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Requires the metropolitan commuter transportation authority to contract with a certified independent public accounting firm for the provision of an independent, comprehensive, forensic audit of the authority to examine redundancies, inefficiencies, and the authority's governance system.

Go to top S05778 Actions:

BILL NOS05778 

&nbsp

02/28/2025REFERRED TO TRANSPORTATION

01/07/2026REFERRED TO TRANSPORTATION

Go to topS05778 Committee&nbspVotes:

Go to topS05778 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05778 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5778

 2025-2026 Regular Sessions

 IN SENATE

 February 28, 2025
 ___________

 Introduced by Sen. MURRAY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Transportation

 AN ACT to amend the public authorities law, in relation to requiring an
 independent forensic audit of the metropolitan commuter transportation
 authority; and providing for the repeal of such provisions upon expi-
 ration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The public authorities law is amended by adding a new
 2 section 1265-c to read as follows:
 3 § 1265-c. Independent forensic audit. 1. Notwithstanding any other
 4 provision of law, the authority shall contract with a certified inde-
 5 pendent public accounting firm for the provision of an independent,
 6 comprehensive, forensic audit of the authority. Such audit shall be
 7 performed in accordance with generally accepted government auditing
 8 standards. Such audit shall examine redundancies, inefficiencies, and
 9 the authority's governance system.
 10 2. The certified independent public accounting firm providing such
 11 audit services pursuant to this section shall be prohibited from provid-
 12 ing audit services if the lead or coordinating audit partner having
 13 primary responsibility for the audit, or the audit partner responsible
 14 for reviewing the audit, has performed audit services for the authority
 15 within any of the ten previous fiscal years of the authority.
 16 3. The certified independent public accounting firm providing such
 17 audit services pursuant to this section shall be prohibited from
 18 performing any non-audit services for the authority contemporaneously
 19 with respect to such audit services.
 20 4. It shall be prohibited for the certified independent public
 21 accounting firm to perform for the authority any audit services if:
 22 (a) the chief executive officer, comptroller, chief financial officer,
 23 chief accounting officer or any other person serving in an equivalent

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05947-02-5

 S. 5778 2

 1 position in the authority was an employee, consultant or independent
 2 contractor of such certified independent public accounting firm and/or
 3 participated in any capacity in the audit of the authority at any time;
 4 or
 5 (b) the chief executive officer, comptroller, chief financial officer,
 6 chief accounting officer or any other person serving in an equivalent
 7 position with such certified independent public accounting firm was
 8 employed as an executive level employee or an equivalent position with
 9 the authority at any time.
 10 5. The certified independent public accounting firm contracted to
 11 perform the independent, comprehensive, forensic audit of the authority
 12 pursuant to this section shall, within two years from the effective date
 13 of this section, report its findings, conclusions and recommendations to
 14 the governor, the state comptroller, the temporary president of the
 15 senate, the speaker of the assembly, the chair and ranking minority
 16 member of the senate finance committee, the chair and ranking minority
 17 member of the assembly ways and means committee, the chairs and ranking
 18 minority members of the senate and assembly corporations, authorities
 19 and commissions committees, and the chairs and ranking mino