|Re: Financial Audit Question||<– Date –> <– Thread –>|
|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> > > _________________________________________________________________ > > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > > http://L.cohousing.org/info > > > > > > > > _________________________________________________________________ > 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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