|Financial Audit Question||<– Date –> <– Thread –>|
|From: S. Kashdan (s_kashdanhotmail.com)|
|Date: Wed, 16 Oct 2019 23:17:37 -0700 (PDT)|
Greetings, This is Sylvie Kashdan, Jackson Place Cohousing, urban Seattle, Washington, built in 2001. I am writing to ask communities what their practices are around professional financial audits. Here at Jackson Place Cohousing, our community does not meet the revenue threshold that would mandate an annual formal financial audit in our state. Since we are below the level at which yearly audits are legally required, we have the option to forego audits. We'd appreciate hearing how other similarly-situated cohousing communities approach this. Even though you aren't mandated, do you still conduct a formal audit annually or do you waive the annual audit some years and conduct them other years? Do you have a set frequency, or are there specific events that "trigger" a formal financial audit? Every year our finance team discusses whether or not to have a professional audit, and then brings their recommendation to the whole group to make the final decision for the year. So far we have had some professional audits, but not every year. We are wondering how other cohousing communities schedule professional audits. Cohousingly, Sylvie Sylvie Kashdan Community Outreach Liaison Jackson Place Cohousing 800 Hiawatha Place South Seattle, WA 98144 www.seattlecohousing.org<http://www.seattlecohousing.org> info [at] jacksonplacecohousing.org<mailto:info [at] jacksonplacecohousing.org>
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