Bill Amendment: IL SB2638 | 2017-2018 | 100th General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: LOCAL GOV ACCOUNT AUDITS
Status: 2018-08-13 - Public Act . . . . . . . . . 100-0837 [SB2638 Detail]
Download: Illinois-2017-SB2638-Senate_Amendment_002.html
Bill Title: LOCAL GOV ACCOUNT AUDITS
Status: 2018-08-13 - Public Act . . . . . . . . . 100-0837 [SB2638 Detail]
Download: Illinois-2017-SB2638-Senate_Amendment_002.html
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1 | AMENDMENT TO SENATE BILL 2638
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2 | AMENDMENT NO. ______. Amend Senate Bill 2638 on page 1, | ||||||
3 | line 7, by replacing "contain statements that" with " be | ||||||
4 | prepared on financial contain statements consistent with | ||||||
5 | either the accrual or cash basis of accounting, depending upon | ||||||
6 | the system followed by the governmental unit, and shall | ||||||
7 | otherwise that "; and
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8 | on page 1, lines 8 and 9, by replacing "principles and that set | ||||||
9 | forth, insofar as possible," with "principles . The audit report | ||||||
10 | shall contain and that set forth, insofar as possible, "; and
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11 | on page 2, lines 1 and 2, by replacing "accountant or | ||||||
12 | accountants" with " auditor or auditors accountant or | ||||||
13 | accountants "; and
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14 | on page 2, immediately below line 12, by inserting the | ||||||
15 | following:
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1 | "Section 10. The Counties Code is amended by changing | ||||||
2 | Section 6-31006 as follows:
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3 | (55 ILCS 5/6-31006) (from Ch. 34, par. 6-31006)
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4 | Sec. 6-31006. Audit report. The audit shall be performed by | ||||||
5 | a licensed certified public accountant. The audit report shall | ||||||
6 | contain the financial position and results of financial | ||||||
7 | operations of each fund, account, and office of the county | ||||||
8 | government. The financial statements shall be consistent with | ||||||
9 | either the accrual or cash basis of accounting, depending upon | ||||||
10 | the system followed by each county, and shall otherwise be in | ||||||
11 | accordance with
statements that are in conformity with | ||||||
12 | generally accepted public accounting
principles and shall set | ||||||
13 | forth, insofar as possible, the financial position
and the | ||||||
14 | results of financial operations for each fund, account and | ||||||
15 | office
of the county government . The audit report shall also | ||||||
16 | include the
professional opinion of the auditor or auditors | ||||||
17 | accountant or accountants with respect to the
financial status | ||||||
18 | and operations or, if an opinion cannot be expressed, a
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19 | declaration that such auditor accountant is unable to express | ||||||
20 | such opinion and an
explanation of the reasons he cannot do so. | ||||||
21 | Each audit report shall
include the certification of the | ||||||
22 | auditor or auditors accountant or accountants making the audit
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23 | that the audit has been performed in compliance with generally | ||||||
24 | accepted
auditing standards. Each audit report filed with the |
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1 | Comptroller shall be
accompanied by a copy of each official | ||||||
2 | statement or other offering of
materials prepared in connection | ||||||
3 | with the issuance of indebtedness of the
county since the | ||||||
4 | filing of the last audit report. | ||||||
5 | An audit report based on the county's selection of the | ||||||
6 | accrual, cash, or modified cash basis of accounting meets all | ||||||
7 | requirements of this Section for conformity with generally | ||||||
8 | accepted accounting principles, including the certification of | ||||||
9 | the accountant or accountants making the audit that the audit | ||||||
10 | has been performed in compliance with generally accepted | ||||||
11 | auditing standards.
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12 | (Source: P.A. 86-962; 87-424.)".
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