As a unit of government, in the state of Indiana, NIRPC is subject to an annual single audit, also known as A-133 audit, with an audit period of January 1st through December 31st. Single audits are performed on entities that expend $500,000 or more of federal funds within a single year. These audits are performed by the Indiana State Board of Accounts. As an agency of the executive branch, the State Board of Accounts audits the financial statements of all governmental unity within the state. Audits are conducted in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, as well as the requirements set by the U.S. Office of Management and Budget Circular A-133. All federal A-133 audits are required to be completed and submitted by the auditors to the U.S. Department of Commerce no later than September 30th of the proceeding calendar year.