Section 420.310  Introduction

a)         Subject.

1)         This Subpart establishes the professional standards applicable to:

A)        audits and attestation engagements conducted pursuant to the authority of the Auditor General; and

B)        audits and attestation engagements conducted by State agencies of local government agencies or private agencies that are grantees or recipients of public funds of the State or of federal funds through projects administered by a State agency.

2)         The standards established in this Subpart concern the scope and quality of the engagement and prescribe the contents and attributes of an acceptable report.

b)         Authority.  This regulation is promulgated pursuant to the authority of Section 3-6 ISAA [30 ILCS 5/3-6].

c)         Referenced Statutes.

Section 3-7 ISAA. 30 ILCS 5/3-7.

            Section 2-12(c) ISAA. 30 ILCS 5/2-12(c)

d)         Effective Date.  This Subpart becomes effective on September 19, 1980.

(Source:  Amended at 30 Ill. Reg. 2260, effective February 20, 2006)