Illinois Compiled Statutes 50 ILCS 355/10-45 – Rules
Current as of: 2024 | Check for updates
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To implement the certified audit project, the Department shall have authority to adopt rules, including, but not limited to:
(1) rules concerning the availability of the
(1) rules concerning the availability of the
certification program required for participation in the project;
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(2) rules concerning the requirements and basis for
establishing just cause for approval or rejection of participation by taxpayers;
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(3) rules setting forth procedures for assessment,
collection, and payment of liabilities or refund of overpayments and provisions for taxpayers to obtain informal and formal review of certified audit results;
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(4) rules concerning the nature, frequency, and basis
for the Department’s review of certified audits conducted by qualified practitioners, including the requirements for documentation, work-paper retention and access, and reporting; and
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(5) rules setting forth requirements for conducting
certified audits and for review of agreed-upon procedures.
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Terms Used In Illinois Compiled Statutes 50 ILCS 355/10-45
- Audit: means an agreed-upon procedures engagement in accordance with Statements on Standards for Attestation Engagements (AICPA Professional Standards, AT-C Section 315 (Compliance Attestation)). See Illinois Compiled Statutes 50 ILCS 355/10-15
- Department: means the Department of Revenue. See Illinois Compiled Statutes 50 ILCS 355/10-15
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.