Monmouth College has selected Naperville, Ill.-based Sikich (FY14 net revenue of $106.7 million) to audit the college’s financial statements and provide tax consulting guidance and review services.
“As a recipient of federal funding, thorough and accurate audits are crucial to ensure our continued success and compliance with government regulations,” said Richard Marshall, vice president for finance and business at Monmouth College, a nationally ranked liberal arts college in western Illinois with an enrollment of 1,200 students.
“Sikich’s experience and expertise in the higher education field will make them a strong partner and provider of audit and tax services. They will also keep us up-to-date on all regulatory and financial compliance changes.”
In addition to the audit of the financial statements, Sikich will perform a student financial assistance audit and provide ongoing guidance to ensure Monmouth remains aware of all Financial Accounting Standards Board (FASB) regulations for not-for-profit organizations. Richard Lynch, a partner in Sikich’s not-for-profit practice, will lead the engagement.
“Monmouth College has a deep history and a long-standing reputation for academic excellence,” Lynch says. “We look forward to building on our many years of experience working with colleges and universities to help them ensure best financial practices.”
Sikich audits more colleges and universities in Illinois than any other CPA firm, according to the 2014 Federal Audit Clearinghouse.