Leading professional services firm to perform key audit for Chicago-area school
NAPERVILLE, Ill. — Sept. 1, 2015 — Concordia University Chicago has selected Sikich LLP to audit the university’s financial statements and provide tax consulting guidance and review services.
The engagement will be led by Sikich’s Frank Jakosz, who has more than 40 years of experience in public accounting and leads Sikich’s not-for-profit and higher education practices. In addition to the audit of the financial statements, Sikich will perform a Student Financial Assistance Audit and provide ongoing guidance to ensure Concordia-Chicago remains aware of all Financial Accounting Standards Board (FASB) regulations for not-for-profit organizations.
“As a university, it is imperative we comply with the federal rules governing our finances,” said Tom Hallett, chief financial officer of Concordia University Chicago. “Sikich’s long and proven history of work with colleges and universities and deep knowledge of the financial rules and regulations in the higher education industry will help us optimize our financial practices and ensure continuous compliance.”
Sikich audits more colleges and universities in Illinois than any other CPA firm, according to the 2014 Federal Audit Clearinghouse. Additionally, the firm serves more than 500 not-for-profit clients and has decades of experience in the not-for-profit field working with higher education institutions, trade associations, social service organizations and other not-for-profit entities. Sikich’s audit, accounting and tax practice offers a full range of services to clients across industries such as government, manufacturing, construction, real estate and agriculture.
Founded in 1864, Concordia University Chicago is a member of the nationwide Concordia University System and is affiliated with The Lutheran Church-Missouri Synod. Located in River Forest, Ill., it has a total enrollment of nearly 5,000 students.
“Concordia University Chicago is a well-established and respected member of a large university system,” Jakosz said. “We are proud to work with them, and we look forward to drawing on our extensive experience in the higher education industry to help Concordia ensure best financial practices.”