Code of the District of Columbia

§ 47–374. Accepted accounting principles to be followed.

(a) Beginning October 1, 1979, the District will account for and report on, unless specifically noted in financial reports, its financial transactions in accordance with generally accepted accounting principles.

(b) The systems, procedures, and controls established by the Mayor shall permit the District to demonstrate and report on compliance with legal requirements and contractual agreements as well as generally accepted accounting principles.