Suggestion, Financial audit.

[Bruce B.]

Has the NCRS had a financial audit conducted lately, if not when was the last one?
My suggestion is to provide audit information to it's members who are interested.
Bruce B

[John T.]

Re: Suggestion, Financial audit.

The issue of an audit for NCRS has come up many times overthe years and has been discussed by several Boards. The conclusion has always been the same. It would cost tens of thousands of dollarsand be of no benefit.

The financial statements of NCRS are currently reviewed by awell-respected outside CPA firm and presented in great detail each year in therestorer.
After the next Restorer arrives, if you have a questionabout a specific item, I will try to answer it for you.

John

[Bruce B.]

Re: Suggestion, Financial audit.

John,
I am sure you as a accounting professional have read this before:

"A financial audit is an independent, objective evaluation of an organization's financial reports and financial reporting processes. The primary purpose for financial audits is to give regulators, investors, directors, and managers reasonable assurance that financial statements are accurate and complete."

As an investor (aka paying member) I believe this is a necessity.
Since a member of the Queen City Chapter offered to front $30,000.00 for a audit and it was rejected by the board I believe a double-check in the form of a audit is definitely required.
Or do we just believe everything is fine and put trust in the organization?
Based on what has transpired recently, trust is not an acceptable option.
Bruce Bursten
#27670

[John T.]

Re: Suggestion, Financial audit.

I am not sure where you are getting your information. I attend every board meeting and the board has never rejected any such offer.

If you will provide me the name of this Queen City chapter member, I will immediately contact him and discuss his offer.

John

[John W.]

Re: Suggestion, Financial audit.

Bruce,

You can contact John Tidwell by clicking on his name at the top of his post. You will then be directed to his profile where you can either send him an email, or a private message. You will also find his contact information on the Contacts page.