Audits and annual reports

(a) The board shall cause an accurate account of all activities, operations, receipts, and expenditures to be maintained in relation to the program and the board. Each year, after the first full fiscal year following program implementation, a full audit of the books and accounts of the board pertaining to the activities, operations, receipts and expenditures, personnel, services, or facilities of the program and the board shall be conducted by a certified public accountant. The audit shall include but not be limited to the review of direct and indirect costs attributable to the use of outside consultants, independent contractors, and any other persons who are not state employees for the administration of the program. For purposes of the audit, the auditors shall have access to the properties and records of the program and board and may prescribe methods of accounting and the rendering of periodic reports in relation to projects undertaken by the program. (b) No later than twenty days before the convening of each regular session, the board shall prepare and submit to the governor and the legislature, and make available to the public, an annual report that shall include but not be limited to: (1) The audited financial report prepared in accordance with generally accepted accounting principles, detailing the activities, operations, receipts, and expenditures of the program and board during the preceding calendar year; and (2) The progress and accomplishments made by the board during the preceding year and projected activities of the program for the current calendar year; provided that the annual report for the first full fiscal year following program implementation shall include the board's findings and recommendations, including any proposed legislation, relating to the feasibility of expanding the program's eligibility to Hawaii's independent workforce, including self-employed workers.