LA HB1045

Raises the annual audit threshold for local auditees from $500,000 to $600,000 in revenues and other sources per fiscal year

Local auditees receiving $200,000 or more but less than $600,000 (previously $500,000) must conduct an annual review of financial statements with an attestation report rather than a full audit

Beginning July 1, 2027, the audit threshold will automatically increase each year based on the percentage increase in the Consumer Price Index, rounded to the nearest dollar

The legislative auditor is responsible for adjusting the threshold amount annually according to CPI changes