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Meeting Minutes Audit Committee of the South Carolina Education Lottery Board of Commissioners August 12, 2009 9:30 A.M.A meeting of the Audit Committee of the South Carolina Education Lottery Board
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LAC - Legislative Audit refers to an independent evaluation of the financial statements and activities of a government entity to ensure compliance with legal and regulatory requirements.
Generally, government agencies, departments, and certain public entities that receive public funds are required to file LAC - Legislative Audit.
To fill out LAC - Legislative Audit, entities must complete the prescribed forms, provide financial statements, and include supporting documentation as per the guidelines provided by the relevant authority.
The purpose of LAC - Legislative Audit is to ensure transparency, accountability, and proper use of public funds, as well as to provide assurance that financial statements are accurate.
The report should include financial statements, audit findings, compliance with laws and regulations, and recommendations for improvement.
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