N.Y. GMU Law § 561-A

§ 561-a. Accounts, reports and audits. 1. The accounting records of\nan agency shall be maintained in accordance with a system prescribed by\nthe state comptroller.\n 2. Within sixty days after the close of the fiscal year, an agency\nshall submit an annual report of its financial condition to the\ncommissioner and to the state comptroller. The report shall be in such\nform as the comptroller shall require. The commissioner or the\ncomptroller may require additional information from the agency or any\nofficer thereof at any time.\n 3. The state comptroller, or his legally authorized representative, is\nhereby authorized and empowered from time to time to examine the books\nand accounts of an agency including its receipts, disbursements,\ncontracts, reserve funds, sinking funds, investments and any other\nmatters relating to its finances or financial standing. Such an\nexamination shall be conducted by the comptroller at least once in every\nfive years; the comptroller is authorized, however, to accept from an\nagency, in lieu of such an examination, an external examination of its\nbooks and accounts made at the request of the agency.\n