§ 1631 — Establishment And Maintenance; Scope

The Governor shall establish and maintain systems of accounting and internal control designed to provide— (a) full disclosure of the financial results of the government’s activities; (b) adequate financial information needed for the government’s management purposes; (c) effective control over and accountability for all funds, property, and other assets for which the government is responsible, including appropriate internal audit; and (d) reliable accounting results to serve as the basis for preparation and support of the government’s request for the approval of the President or his designated representative for the obligation and expenditure of the internal revenue collections as provided in section 26, the Governor’s budget request to the legislature, and for controlling the execution of the said budget.