An Act improving the internal controls within state agencies

This bill strengthens financial oversight within Massachusetts state agencies by establishing new internal control standards and reporting requirements. It mandates that the comptroller, working with the state auditor, create regulations defining minimum quality standards for internal controls, which must include risk assessments, written policies, and training programs. Each agency must appoint an official responsible for maintaining these systems and ensuring that audit findings are addressed through corrective actions and budget requests. Additionally, the law requires the immediate reporting of financial losses, thefts, or control failures to the state auditor, who will then investigate and recommend fixes to prevent future issues.