97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1915

 

Introduced , by Rep. Sandra M. Pihos

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 5/1-13  from Ch. 15, par. 301-13

    Amends the Illinois State Auditing Act. Provides that the compliance audit may address agency management representations, assertions, and supporting evidence regarding whether the job titles and descriptions for filled management positions duplicate or overlap with titles and descriptions for other management positions. Effective immediately.


LRB097 07753 PJG 47865 b

 

 

A BILL FOR

 

HB1915LRB097 07753 PJG 47865 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois State Auditing Act is amended by
5changing Section 1-13 as follows:
 
6    (30 ILCS 5/1-13)  (from Ch. 15, par. 301-13)
7    Sec. 1-13. Compliance audit. "Compliance audit" means an
8attestation engagement that either examines, reviews, or
9entails performing agreed-upon procedures on a subject matter
10or an assertion about a subject matter and reporting on the
11results. The compliance audit, as appropriate, may address
12agency management representations, assertions, and supporting
13evidence regarding:
14        (a) whether the audited agency has obligated,
15    expended, received and used public funds of the State in
16    accordance with the purpose for which such funds have been
17    appropriated or otherwise authorized by law;
18        (b) whether the audited agency has obligated,
19    expended, received and used public funds of the State in
20    accordance with any limitations, restrictions, conditions
21    or mandatory directions imposed by law upon such
22    obligation, expenditure, receipt or use;
23        (c) in the case of a State agency, whether the audited

 

 

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1    agency has generally complied with applicable laws and
2    regulations, including the State uniform accounting
3    system, in its financial and fiscal operations;
4        (d) in the case of a State agency, whether the records,
5    books and accounts of the audited agency accurately reflect
6    its financial and fiscal operations;
7        (e) in the case of a local or private agency, whether
8    the records, books and accounts of the audited agency
9    fairly and accurately reflect its financial and fiscal
10    operations relating to the obligation, receipt,
11    expenditures and use of public funds of the State to the
12    extent such operations must be reviewed to complete post
13    audit determinations under paragraphs (a) and (b) of this
14    Section;
15        (f) in the case of a State agency, whether the audited
16    agency is maintaining effective internal controls over
17    revenues, obligations, expenditures, assets and
18    liabilities;
19        (g) whether collections of State revenues and receipts
20    by the audited agency are in accordance with applicable
21    laws and regulations and whether the accounting and record
22    keeping of such revenues and receipts is fair, accurate and
23    in accordance with law;
24        (h) in the case of a State agency, whether money or
25    negotiable securities or similar assets handled by the
26    audited agency on behalf of the State or held in trust by

 

 

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1    the audited agency have been properly and legally
2    administered, and whether the accounting and record
3    keeping relating thereto is proper, accurate and in
4    accordance with law; and
5        (i) whether financial, program and statistical reports
6    of the audited agency contain useful data and are fairly
7    presented; and
8        (j) in the case of a State agency, whether the job
9    titles and descriptions for filled management positions
10    duplicate or overlap with titles and descriptions for other
11    management positions.
12    Compliance audits are to be performed in accordance with
13attestation standards issued by the American Institute of
14Certified Public Accountants (AICPA), related AICPA Statements
15on Standards for Attestation Engagements, and generally
16accepted government auditing standards (GAGAS) current at the
17time the audit is commenced.
18(Source: P.A. 93-630, eff. 12-23-03.)
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.