The Board is requesting proposals from firms licensed to practice public accountancy in the State of Illinois to examine and verify the Board’s financial records, audit requirements for Federal Awards (Uniform Guidance) with provisions of the Single Audit Act and audit employee payroll. The audits will be comprised of a general financial and compliance audit to be performed at least every odd-numbered year and will cover the authority’s internal control systems, compliance with laws, regulations, contract provisions, grant agreements, and payroll accuracy. To ensure the Board is adhering to relevant laws and regulations, verification of employee payrolls will need to be reviewed for accuracy as well as verifying that payroll taxes are calculated and remitted correctly. Conducting an audit of our payroll processes, records, and internal practices will ensure accuracy, compliance, fraud detection, and efficiency.
