Municipal Auditing Request

THANK YOU to all who responded to our municipal audit/attest engagement interest survey. Nothing shows the value of our profession than having CPAs rise to meet the challenge, and you’ve certainly done that. We have made the list available on our website at Regulatory Resources | ASCPA. We have provided that link to the Department of Examiners and the Alabama League of Municipalities. Please check your listing to make sure the information provided is correct.

If you have not completed the survey, are in public accounting, have experience with municipal attest services and are willing to take on new clients, please see the following link and fill out a 4-minute questionnaire. Municipal Audit / Attest Engagement Interest Inventory – Fill out form

 

About those municipal audit thresholds

Rep. Bill Lamb’s HB17 (HB17-int.pdf) would raise the expenditure thresholds for when a municipality could need an agreed-upon-procedures engagement, biennial audit or annual audit.

We’ve mentioned this bill before. It has passed the House and has gone through Senate Committee, has only the Senate Floor and Governor’s signature to go. At the request of a member CPA (thanks for the suggestion, Charlie!), we are pushing for a last-minute amendment to make the bill effective immediately for fiscal years ended September 30, 2025 and later. The Examiners and the League of Municipalities are supporting us in that ask.

 

Fiscal State of the Nation Act

I’ll be in Washington D.C. this week on another matter, but while there I plan to support the AICPA’s advocacy in favor of the Fiscal State of the Nation Act, H.R.7026 (BILLS-119hr7026ih.pdf). This bipartisan effort would require joint budget committee hearings to receive an annual presentation from the Comptroller General of the United States regarding the audited financial statements of the

executive branch. Specifically, I will be asking members of the Alabama delegation to co-sponsor the Act. The AICPA has long advocated for this effort, and we are happy to join in.

 

And now, quick updates:

1. Education Budget and General Fund Budget bills are moving fast. Once those get passed, the Legislature could Sine Die at any moment… We’ll see.
2. We expect a two-session week this week. Spring break will be next week, leaving six possible session days after the break, if they choose to use them.
3. The Watchlist on our Advocacy web page is being constantly updated. Check in often.

CLICK HERE FOR THE WATCHLIST

There have been 989 bills filed so far. If we’ve missed something or you have any questions, please do not hesitate to contact me at rpearson@alabama.cpa.