We are pleased to announce that our annual financial audit for fiscal/calendar year 2023 has been successfully completed by the independent CPA firm FEW CPAs. The association has once again received a clean audit opinion with no material irregularities or misstatements.
Background: Our bylaws mandate an external audit by an independent CPA every 5 years. However, several years ago, the board decided to transition to an annual external audit for the following reasons:

1. Enhanced Member Protection: Annual audits provide timely detection of any potential issues, offering greater protection for our members.
2. Cost Efficiency: Conducting annual external audits has proven to be more cost-effective vs. auditing every five years.
3. Increased Expertise: CPAs involved develop a deeper understanding of our financial statements and operations.
4. Turnover: Boards have fully turned over every 3-6 years and with it the expertise and knowledge of specific circumstances and transactions.

The audit report is available for review on our website at [https://ilpoa.org/documents/]. For any specific questions, please reach out to us at bod.torelup@ilpoa.org.

Sincerely,
ILPOA BOD