(a) The audit and reporting requirements under Section 391.009(a) shall include a requirement that a commission annually report to the state auditor:
(1) the amount and source of funds received by the commission;
(2) the amount and source of funds expended by the commission;
(3) an explanation of any method used by the commission to compute an expense of the commission, including computation of any indirect cost of the commission;
(4) a report of the commission’s productivity and performance during the annual reporting period;
(5) a projection of the commission’s productivity and performance during the next annual reporting period;
(6) the results of an audit of the commission’s affairs prepared by an independent certified public accountant; and
(7) a report of any assets disposed of by the commission.
(b) The annual audit of a commission may be commissioned by the commission or at the direction of the governor’s office, as determined by the governor’s office, and shall be paid for from the commission’s funds.

(c) A commission shall submit any other report or an audit to the state auditor and the governor.
(d) If a commission fails to submit a report or audit required under this section or is determined by the state auditor to have failed to comply with a rule, requirement, or guideline adopted under Section 391.009, the state auditor shall report the failure to the governor’s office. The governor may, until the failure is corrected:
(1) appoint a receiver to operate or oversee the commission; or
(2) withhold any appropriated funds of the commission.
(e) A commission shall send to the governor, the state auditor, and the Legislative Budget Board a copy of each report and audit required under this section or under Section 391.009. The state auditor may review each audit and report, subject to a risk assessment performed by the state auditor and to the legislative audit committee’s approval of including the review in the audit plan under Section 321.013, Government Code. If the state auditor reviews the audit or report, the state auditor must be given access to working papers and other supporting documentation that the state auditor determines is necessary to perform the review. If the state auditor finds significant issues involving the administration or operation of a commission or its programs, the state auditor shall report its findings and related recommendations to the legislative audit committee, the governor, and the commission. The governor and the legislative audit committee may direct the commission to prepare a corrective action plan or other response to the state auditor’s findings or recommendations. The legislative audit committee may direct the state auditor to perform any additional audit or investigative work that the committee determines is necessary.