|Re: Financial Audit Question||<– Date –> <– Thread –>|
|From: Mac Thomson (macthomsonme.com)|
|Date: Thu, 24 Oct 2019 06:53:20 -0700 (PDT)|
At Heartwood Cohousing we’ve never had an audit, or really even considered it. We’ve been around for 20 years. I oversee our books, but don’t do the bookkeeping. I feel that we have enough checks and balances and internal controls in place that an audit wouldn’t be needed. But maybe I’m being naive. FWIW, in a previous lifetime I was a CPA and auditor with a public accounting firm. -- Mac Thomson Heartwood Cohousing Southwest Colorado http://www.heartwoodcohousing.com "There never was a good war or a bad peace." - Benjamin Franklin ********************************************************** > On Oct 17, 2019, at 12:17 AM, S. Kashdan <s_kashdan [at] hotmail.com> wrote: > > 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> > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://L.cohousing.org/info > > >
- Financial Audit Question S. Kashdan, October 16 2019
- Re: Financial Audit Question rphilipdowds, October 24 2019
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