(A) Notwithstanding section 117.11 of the Revised Code, the auditor of state, at least once a year, shall audit the accounts and transactions of one large and two small regional transit authorities.

(B) The auditor shall submit a copy of each audit report performed under this section to the governor, the presiding officers of each house of the general assembly, and the director of budget and management not later than ninety days after completing the audit.