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State of Illinois PROCUREMENT OPPORTUNITY TO:Proposal ManagerFROM:Jane Clark, Financial and Compliance Audit Directorate:November 29, 2022SUBJECT:Request for Proposals (Professional and Artistic Services)

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Gather all necessary financial documents and records.

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Review and analyze financial statements, transactions, and accounts for accuracy.

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Who needs financial and compliance audit?

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Corporations

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Government agencies

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Financial institutions

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Any organization or entity seeking transparency and accountability in their financial practices

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What is financial and compliance audit?

Financial and compliance audit is an examination of an organization's financial statements and internal controls to ensure accuracy, legality, and regulatory compliance.

Who is required to file financial and compliance audit?

Organizations that receive government funding, grants, or contracts are typically required to file financial and compliance audit.

How to fill out financial and compliance audit?

Financial and compliance audits are typically filled out by certified public accountants or accounting firms who review the organization's financial records and internal controls.

What is the purpose of financial and compliance audit?

The purpose of financial and compliance audit is to provide assurance to stakeholders that an organization's financial statements are accurate and comply with relevant laws and regulations.

What information must be reported on financial and compliance audit?

Financial and compliance audits typically report on the organization's financial statements, internal controls, compliance with laws and regulations, and any findings or recommendations.

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