Louisiana Governmental Audit Guide

For CPA Firms

Reissued Reports (400-1270)

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DISCLAIMER
The Louisiana Governmental Audit Guide (LAGAG) is authorized by Louisiana Revised Statute 24:513 A. (5) (a) (i) to set forth the standards by which the engagements of local governments and quasi-public organizations (local auditees) are to be performed. The LAGAG is jointly produced by the Louisiana Legislative Auditor (LLA) and the Society of Louisiana Certified Public Accountants.

Although the LAGAG is intended to assist CPAs in performing their audits and other engagements for local auditees, it does not include a detailed analysis of the professional auditing and accounting standards a CPA must consider during his or her audit, review/attestation or compilation engagements; nor is it a substitute for professional judgment. CPAs must reach their own conclusions through research of all applicable auditing and accounting standards, in addition to the LAGAG, in the performance of their local auditee engagements.

In addition, although the LAGAG is intended to assist local auditees, it does not include all of the legal and accounting information an agency needs to perform its operations; nor is it a substitute for professional, legal or accounting advice; or professional or personal judgment. Local auditees should use the information in the LAGAG, in conjunction with the guidance of the professionals most familiar with the particular facts and circumstances regarding their agency, in the performance of their operations.

For questions and comments about the LAGAG, please contact LLA at (225) 339-3800.


Periodically the Louisiana Legislative Auditor (LLA) becomes aware that an audit or other attestation report that has been issued and is on LLA’s website needs to be revised because of an error or omission. The notification may come from the CPA who performed the audit; the local auditee LLA LaGAG; a funding agency of the local auditee; another third party, or through LLA’s subsequent review of an issued report.

The reports on LLA’s website have been issued as public documents. These reports cannot be replaced without some type of notification to those individuals who have relied upon the originally issued report.

A reissued report is handled in this manner:
    1. The CPA firm that performed the engagement notifies LLA’s Engagement Manager LLA LaGAG that a report needs to be revised. Alternatively, if LLA becomes aware that a report is to be revised by a review of the report or through means other than by notification from the CPA firm, the Engagement Manager advises the CPA that the report needs to be revised.
    2. The report is revised.
    3. A letter is prepared, either on the local auditee’s or the CPA firm’s letterhead, explaining the reason the report was revised. The letter is issued with the revised report, as the first page of the report.
    4. The report is sent to ereports@lla.la.gov
    5. The report is reviewed and issued by LLA. The original report is replaced on the LLA website. The letter described in 3. is issued with the report, as the first page of the report; and serves as LLA’s notification that the report has been revised.

A CPA firm that issues a revised report without notifying LLA is subject to disciplinary actions LLA LaGAG, up to and including suspension.

QUESTIONS:

Q. After I submitted a report through the portal, I realized that there was an error in it. Do I need to follow the procedures described above to reissue the report?
A. If LLA has not issued a report as a public document, you do not need to go through the process described above for a reissued report. Call Local Government Services (LGS) LLA LaGAG to determine the status of the report. If the report has not been issued, the report can be put on hold in the portal by an LGS staff person, and the report can be resubmitted.
If the report has been issued as a public document, the revised report needs to be submitted to LLA following the process described above.

Q. Does the letter attached to the revised report and issued by LLA satisfy the CPA’s responsibilities for reissued reports under generally accepted auditing standards?
A. A CPA cannot assume that the letter attached to a revised report and issued by LLA will satisfy the CPA’s responsibilities for reissued reports under generally accepted auditing standards. The CPA must review and follow the guidance in AU-C Sections 560.15 - .18 and 560 A.18 – 26 (for audit engagements) or AT-C Sections 210.A. 41 – 42 (for review engagements) regarding notification to the parties to whom the report has been distributed.

Q. One of my local auditee clients wants to revise an audit report for an immaterial matter. Does the revised report need to be sent to LLA?
A. LLA would advise you to talk with the local auditee and tell them what is involved in revising and redistributing the report. If the agency still wants to revise the report, it needs to be submitted to LLA following the process above.

Q. A funding agency for one of my local auditees has asked that the local auditee’s audit report be revised for an immaterial error reported in a grant the local auditee received from them. Can the local auditee refuse to revise the report?
A. LLA does not usually interfere if a funding agency has requested that a report be revised, even if the revision is for an immaterial matter. The local auditee and their auditor may discuss the matter with the funding agency; but LLA will generally support the funding agency’s ultimate decision.

Q. A report that was originally submitted to LLA by the statutory due date was revised subsequent to the due date. Does the revised report need to include a late report finding?
A. No. A revised report that was originally submitted to LLA by the statutory due date does not need to include a late report finding.


NB: This document is the current version as of 09/12/2017.

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