New York A 6088: Requires an independent forensic audit of the metropolitan commuter transportation authority

Bill Text

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A06088 Summary:

BILL NOA06088 

&nbsp

SAME ASSAME AS S05778

&nbsp

SPONSORRa

&nbsp

COSPNSRBrown E, Brown K

&nbsp

MLTSPNSR

&nbsp

Add §1265-c, Pub Auth L

&nbsp

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 A06088 Actions:

BILL NOA06088 

&nbsp

02/26/2025referred to corporations, authorities and commissions

05/28/2025held for consideration in corporations, authorities and commissions

01/07/2026referred to corporations, authorities and commissions

Go to topA06088 Committee&nbspVotes:

Committee:CORPORATIONS, AUTHORITIES AND COMMISSIONS Chair:Braunstein 
DATE:05/28/2025AYE/NAY:17/8 Action: Held for Consideration BraunsteinAyeLemondesNay

CookAyeBlankenbushNay

OtisAyeFriendNay

RozicAyePalmesanoNay

KimAyeAngelinoNay

DilanAyeJensenNay

Pheffer AmatoAyeBlumencranzNay

CarrollAyeBaileyNay

FallExcused

Gonzalez-RojasAye

ZinermanAye

TapiaAye

JacobsonAye

BoresAye

ShimskyAye

SimoneAye

ConradAye

LasherAye

Go to topA06088 Floor&nbspVotes:

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

Go to topA06088 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6088

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 26, 2025
 ___________

 Introduced by M. of A. RA -- read once and referred to the Committee on
 Corporations, Authorities and Commissions

 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

 A. 6088 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 s