Illinois HB1911 modifies audit procedures for governmental units, including frequency and reporting requirements.
HB1911 amends the Governmental Account Audit Act to change audit procedures for governmental units in Illinois. For fiscal years 2027 and after, governmental units must have their accounts audited every two years, with annual audits required if the latest report contains an adverse or disclaimer of opinion. Units receiving less than $1,400,000 in revenue can opt for a four-year audit cycle. All audits must be submitted electronically to the Comptroller, who posts them online within 45 days. The bill also modifies definitions and filing requirements for audit reports and financial statements.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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