The powers of Louisiana state government are divided between three separate and distinct branches; the legislative branch, the executive branch, and the judicial branch.
The legislative branch, through the Louisiana Legislature, is responsible for determining policy through the enactment of laws, subject to federal and state constitutional restrictions. The Louisiana Legislature has the power to appropriate funds to finance the programs and functions of state government.
The executive branch, through the office of the governor and its related departments and agencies, is responsible for the administration and enforcement of the state Constitution, and the laws passed by the Louisiana Legislature.
The judicial branch is responsible for interpreting the laws of the state and resolving legal conflicts. The judicial branch includes circuit courts, courts of appeal, and the Louisiana Supreme Court.
The financial activity of all three branches of state government is reported within the state’s annual comprehensive financial report or ACFR. The Division of Administration, which is one of the departments within the executive branch of Louisiana state government, makes the determination as to whether an agency is to be included in the ACFR, based upon the guidance provided by Governmental Accounting Standards Board (GASB) Statement 14.
The state’s ACFR also includes the financial activity of state colleges and universities.
The state’s ACFR is audited annually by the Louisiana Legislative Auditor’s (LLA’s) Financial Audit Services section. The state’s most recent audited ACFR is available on LLA’s Audit Report Library.
Louisiana State Government Agencies
The Louisiana Governmental Audit Guide (LAGAG) is authorized by Louisiana Revised Statute 24:513 A. (5) (a) (i) to set forth the standards by which the engagements of local governments and quasi-public organizations (local auditees) are to be performed. The LAGAG is jointly produced by the Louisiana Legislative Auditor (LLA) and the Society of Louisiana Certified Public Accountants.
Although the LAGAG is intended to assist CPAs in performing their audits and other engagements for local auditees, it does not include a detailed analysis of the professional auditing and accounting standards a CPA must consider during his or her audit, review/attestation or compilation engagements; nor is it a substitute for professional judgment. CPAs must reach their own conclusions through research of all applicable auditing and accounting standards, in addition to the LAGAG, in the performance of their local auditee engagements.
In addition, although the LAGAG is intended to assist local auditees, it does not include all the legal and accounting information an agency needs to perform its operations; nor is it a substitute for professional, legal or accounting advice; or professional or personal judgment. Local auditees should use the information in the LAGAG, in conjunction with the guidance of the professionals most familiar with the particular facts and circumstances regarding their agency, in the performance of their operations.
For questions and comments about the LAGAG, please contact LLA at (225) 339-3800.