Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 760 - REVISED UNIFORM UNCLAIMED PROPERTY ACT
Subpart F - EXAMINATIONS
Section 760.750 - Entrance Conference
Universal Citation: 74 IL Admin Code ยง 760.750
Current through Register Vol. 48, No. 38, September 20, 2024
a) Once an examination is assigned and written notice of an examination is provided to the person subject to examination, an entrance conference will be scheduled with the auditor and representatives of the person subject to examination. A representative of the administrator may, but is not required, to participate in an entrance conference. If the person subject to examination refuses to schedule an entrance conference with the auditor, the auditor shall inform the administrator of that refusal.
b) During the entrance conference, the auditor shall, to the extent practicable:
1)
identify of the types of property that will be subject to the examination and
the time period covered by the examination;
2) discuss an examination work plan, a
tentative schedule, and any potential scoping issues;
3) provide contact information for both the
auditor and the administrator;
4)
if a draft has not been presented prior to the entrance conference, provide the
person subject to examination a draft confidentiality agreement;
5) notify the person subject to examination
of his or her ability to request an informal conference with the administrator
pursuant to Section 15-1008 of the Act;
6) advise the person subject to examination
that the administrator and not the auditor makes determinations concerning that
person's liability under the Act and that interpretations of the Act are made
by the administrator;
7) request
records and materials necessary to proceed with the next steps of the
examination;
8) explain the
requirement to provide a due diligence notice to the apparent owner of property
presumed abandoned; and
9) explain
that, unless otherwise agreed to in writing by the administrator, the person
subject to examination shall remit to the auditor any unclaimed property
identified during the examination that is owed to the State of
Illinois.
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