Illinois Compiled Statutes

40 ILCS 5/15-174 (2026)

To have an audit

✓ current as of May 2026
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(40 ILCS 5/15-174) (from Ch. 108 1/2, par. 15-174)
    Sec. 15-174. To have an audit.
    To cause an audit of the affairs of the system to be made annually by an independent certified public accountant; and to submit a copy thereof to the Governor of the State as soon as possible after the end of each fiscal year.
(Source: Laws 1963, p. 161.)

    
Notes of Decisions
Cited in 2 cases, 2014–2014 · leading case: Sharp v. The Bd. of Trs. of the State Employees' Ret. Sys., 2014 IL App (4th) 130125 (Ill. App. Ct. 2014).
Sharp v. The Bd. of Trs. of the State Employees' Ret. Sys., 2014 IL App (4th) 130125 (Ill. App. Ct. 2014). “Likewise, both SERS and SURS have fiduciary duties and the power to audit (compare 40 ILCS 5/15-174 (West 2010), with 40 ILCS 5/14-135.”
Sharp v. The Bd. of Trs. of the State Employees' Ret. Sys., 2014 IL App (4th) 130125 (Ill. App. Ct. 2014). “Likewise, both SERS and SURS have fiduciary duties and the power to audit (compare 40 ILCS 5/15-174 (West 2010), with 40 ILCS 5/14-135.”
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