The Illinois State Auditing Act, 30 ILCS 5/1 (1998) authorizes the State Auditor General to perform financial and compliance audits of all state agencies, including the University of Illinois, on a regular basis. The audits are conducted by certified public accounting firms hired by the State Auditor General to serve as special assistant auditors. The special assistant auditors also perform audits in accordance with federal regulations on the receipt and expenditure of federal funds by the University.
Special assistant auditors may also be engaged by the University to perform special audits on select programs in accordance with requirements imposed by the sponsoring agency or as requested by the State Auditor General.
The Vice President for Administration has delegated responsibility to the Senior Associate Vice President for Business and Finance to serve as the liaison with the State Auditor General's staff and external auditors. The campus Assistant Vice Presidents for Business and Finance or their delegates are responsible for coordinating the external audit activities conducted on their campus.
See the Grants & Sponsored Projects section for information about A-133 audit reports.
Finance and Audit Committee of the Board of Trustees
To maintain oversight of the auditing function, both internally and externally, the Finance and Audit Committee reviews the previous year's internal audit program and the direction the audit program will follow in the year ahead. The Committee reviews with the Comptroller the annual financial audits, including any specific issues of concern. As appropriate, background documents related to specific audit issues are sent to Committee members by the Comptroller during the course of each year.
Last Updated: April 8, 2005