House committee substitute to the 1st edition makes the following changes.

Amends both GS 159-34 (annual independent audit of local governments) and GS 115C-447 (annual school independent audits) to change the entity certifying auditors back to the Local Government Commission (LGC) (was, State Auditor). Makes conforming changes to remove references to the State Auditor throughout both GS 159-34 and GS 115C-447. Requires both the CPA or the accountant conducting the audit to be certified by the LGC (was, CPA or accountant, who shall be certified by the State Auditor). Amends the sealed bid process for both entities to allow each entity, upon opening the sealed bid, to determine that the auditor cannot meet the audit schedule of entity or has performed inadequately on a prior audit of the entity, then entity may reject that sealed bid and solicit sealed bids again in accordance with the act.  Now allows each entity tp solicit sealed bids annually but requires it to be done at least once every five years. Makes technical changes. Makes conforming changes to the act’s long title.