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Bill

S 5905

Directs the metropolitan transportation authority to contract with a certified public accounting firm for the conducting of an independent forensic audit

2025 Regular Session Introduced by Andrew Lanza and 1 co-sponsor

Requires the MTA to hire a CPA firm for an independent forensic audit, delivering a final report with findings and recommendations to bolster financial transparency and oversight.

REFERRED TO TRANSPORTATION
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Bill Summary · S 5905

Summary of Bill S 5905

Overview

Bill S 5905 would require the Metropolitan Transportation Authority (MTA) to contract with a certified public accounting (CPA) firm to conduct an independent forensic audit. The bill’s introduction and current status place it under the jurisdiction of the Transportation Committee.

  • Introduced: March 3, 2025
  • Status: Referred to Transportation
  • Classification: bill

The title indicates the core objective is to obtain an independent forensic examination of the MTA’s financial operations by a CPA firm, with the aim of increasing accountability and transparency.

What the bill would do

  • Direct the MTA to engage a certified public accounting firm to conduct an independent forensic audit.
  • Require that the selected firm be a CPA firm (i.e., licensed and qualified to perform forensic audits under applicable professional standards).
  • Establish an obligation for an independent assessment of the MTA’s financial records and related controls through the forensic audit process.
  • Mandate delivery of a final audit report and any related findings, data, or recommendations (the exact deliverables and reporting format would be defined in the full text of the bill).

Note: The information provided here is based on the bill’s title and status. The full text would specify scope, standards, methodology, duration, deliverables, and any required follow-up actions.

Potential impact and considerations

  • Governance and transparency: Expected to enhance financial oversight of the MTA by providing an independent, third-party assessment of financial practices and internal controls.
  • Fiscal implications: The audit would entail costs for contracting and administering the forensic review; the bill or accompanying fiscal notes would specify funding sources and amounts.
  • Procurement and oversight: The bill would likely set procurement requirements to ensure independence and qualifications of the audit firm, along with reporting obligations to oversight bodies and potentially the Legislature.
  • Policy alignment: Related bills from prior sessions (S 3835, S 2482, S 4637, S 6303, S 2640, S 4924, S 4190) suggest ongoing interest in enhanced financial scrutiny of the MTA; S 5905 would add a formal mechanism for an independent forensic audit.

Affected entities

  • Primary: Metropolitan Transportation Authority (MTA)
  • Secondary: Certified public accounting firms (qualified to perform forensic audits), legislative and oversight bodies that would receive the audit report

Procedural timeline and next steps

  • Currently in the Transportation Committee after being introduced on March 3, 2025.
  • If advanced, the bill would move through committee hearings, potential amendments, and floor votes, followed by passage or rejection. The exact timeline would depend on committee action and leadership decisions.

For readers seeking more detail, the full bill text would specify the audit’s scope, standards, timelines, deliverables, and funding provisions.

Compiled from official sources — confirm details with the bill’s official record.

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