Audit Services

Lauterbach & Amen, LLP provides annual audit services to over 150 local governments. We continually strive to distinguish ourselves from other accounting firms by including the following as part of our audit services:

  • Conducting annual training sessions with our clients covering such topics as: new GASB pronouncements, understanding the financial statements, and identification of finance department efficiencies and best practices
  • Possessing exclusive expertise in the area of local government, as exemplified by our clients’ outstanding retention rate of the Certificate of Achievement for Excellence in Financial Reporting
  • Allowing our clients to dictate scheduling needs related to the audit process and adhering to those needs
  • Maintaining a program of continuity for multi-year engagements, including minimal rotation of staff and in-charge auditors, allowing for the establishment of efficient working relationships with our clients
  • Forming professional resource alliances with other businesses in the areas of human resources, tax and information technology

 

Audit Services Provided:

  • Perform an audit in accordance with auditing standards generally accepted in the United States (GAAS) for governmental agencies and in conformity with accounting principles generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller General of the United States and the Office of Management and Budget (OMB) Circular A-133, Audits of States Local Governments, and Non-Profit Organizations
  • Assistance in the implementation of authoritative pronouncement requirements
  • Assistance in obtaining or securing the Certificate of Achievement (COA) from the Government Finance Officers Association (GFOA)
  • Preparation of (Comprehensive) Annual Financial Reports in accordance with generally accepted accounting principles for government entities
  • Preparation of a Management Letter which is utilized to recommend improvements in accounting practices and procedures, internal controls and administrative controls, and to also communicate best practices in the industry
  • Preparation of the report on compliance with Public Act 85-1142 for each Tax Increment Financing District
  • Preparation of the annual Illinois Division of Insurance reports for police and firefighter pension funds
  • Preparation of the annual Municipal Compliance Report for police and firefighter pension funds
  • Preparation of the Annual Financial Report (Comptroller’s Report) filed with the Comptroller of the State of Illinois
  • Preparation of grant compliance reports for reporting to granting agencies

 

At Lauterbach & Amen, LLP we pride ourselves in providing a quality audit. As such, our Firm is a member of the Private Companies Practice Section (PCPS) of the Division for CPA Firms of the AICPA, submitting our accounting and auditing practice to quality control reviews (peer review) of our compliance with professional standards as established by the AICPA.

Lauterbach & Amen, LLP successfully completed a rigorous peer review of its accounting and auditing practice. The reviewer concluded that the firm’s system of quality control for the accounting and auditing practice in effect for the year ended March 31, 2015, has been suitably designed, and complied with, to provide reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.

L&A participates in the Peer Review Program, a practice-monitoring program approved by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPAs. A firm participating in the Peer Review Program must have an independent review of its accounting and auditing practice every three years.

The firm’s peer review rating of pass indicates Lauterbach & Amen, LLP meets the accounting profession’s high standards of quality and professionalism.