Legislature Passes Bill Making State Fund Subject to Audits

A bill that would make the State Compensation Insurance Fund subject to review by the state auditor is on its way to Gov. Arnold Schwarzenegger's desk.The state Assembly on Aug. 31 approved Senate amendments to Assembly Bill 1447 by John A. Perez, D-Los Angeles. That action was the last step in the legislative process after both the Assembly and Senate approved the measure in unanimous votes.AB 1447 declares State Fund to be a state agency for purposes of authorizing the Bureau of State Audits to conduct financial and performance audits of the carrier and requires State Fund to include a d...