232.44  Audit of records of nonprofit corporations and associations handling interscholastic activities.--

(1)  The Auditor General shall, at least every 6 months, audit the books and records of any nonprofit association or corporation which operates for the purpose of supervising and controlling interscholastic activities of the public high schools in the state and whose membership is composed of duly certified representatives of public high schools in the state, and whose rules and regulations are established by members thereof.

(2)  Any such nonprofit association or corporation shall keep adequate and complete records of all moneys received by it, including the source and amount, and all moneys spent by it, including salaries, fees, expenses, travel allowances, and all other items of expense. All records of any such organization shall be open for inspection by the Auditor General or the Auditor General's employees.