Re: Financial Audit Question
From: Diana Carroll (dianaecarrollgmail.com)
Date: Thu, 24 Oct 2019 07:03:28 -0700 (PDT)
FWIW, our interest in an audit isn't so much about making sure there's no
malfeasance, but to make sure our totally amateur accountant (me) hasn't
wildly screwed anything up.

I wish we had a you in our community to back me up!  In that case I think
an audit would be less essential.

Diana

On Thu, Oct 24, 2019 at 9:53 AM Mac Thomson via Cohousing-L <
cohousing-l [at] cohousing.org> wrote:

> 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>
> > _________________________________________________________________
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> >
> >
> >
>
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