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This discussion is now open
We don't need an auditor by law, and our finances are simple enough now that last year's waste of money on an auditor (did we get that report?) should last us for 10 years or so.
Michael is hoping to receive the report before the end of the meeting.Quote:
Originally Posted by Christopher Mallon
I thought we had some requirement to have at least a review engagement to move on with RCAAA application.
Interesting, yet another reason the meeting should not have started so early.Quote:
Originally Posted by Fred McKim
I see nothing in the RCAAA rules requiring an audit or review engagement.
Don't waste money on this.
I agree with the consensus of not spending this money again until such time as we are required to by law.Quote:
Originally Posted by Paul Leblanc
The legal requirement is one thing. Having externally reviewed financial statements provides a level of cred that we should not dismiss lightly. If not an annual audit I believe we should plan on a regular interval, like every 2-3 years.
The legal requirement is one thing. Having externally reviewed financial statements provides a level of cred that we should not dismiss lightly. If not an annual audit I believe we should plan on a regular interval, like every 2-3 years.
The cost is an enormous portion of our variable spending. In fact we really don't HAVE any more variable spending anymore now that the newsletter is locked in for two years.
Why not have a volunteer with some background in finance (Bob Gillanders springs to mind) do a review from time to time?
Yes an audit can provide some good ideas but the cost will bring tears to our eyes.