Updates for Accountants

The Agreed-Upon Procedures Guide, Sample Independent Accountant's Report, and sample client representation letter for 2024 calendar year reports are now available on the OSA website.

A special notice was sent to accountants and auditors who work with fire relief associations. Information about how to report transfers to the Public Employees Retirement Association for those relief associations that joined the Statewide Volunteer Firefighter Plan is included.

Legislation passed in 2023 increased the threshold at which an annual audit is required for fire relief associations. Beginning with reports for the 2023 calendar year, an audit is required if a relief association's special fund assets or liabilities exceed $750,000.

Relief associations with special fund assets of less than $750,000 and special fund liabilities of less than $750,000 on December 31, 2024, and that have not exceeded this threshold since the 2023 law change, are required to have the annual financial reporting form attested to by a certified public accountant and submit an Agreed-Upon Procedures Report.

Access to reporting forms for accountants, auditors, and other consultants who work with relief associations expires at the end of each calendar year. Relief associations will need to complete the 2025 User Authorization Form to provide these individuals with access to reporting forms during the 2025 calendar year.

Last Updated December 2024