Editing Audit

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== Selection of auditors ==
== Selection of auditors ==
The auditors are two members of general membership, preferably not members of the board.
The auditors are two members of general membership, preferably not members of the board.
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These two members must be members of PCSAR not the [[CRG]] ([[Bylaws/Consolidated|bylaws section 16]]).
 
They are appointed by the board ([[Bylaws/Consolidated|bylaws section 16]])
They are appointed by the board ([[Bylaws/Consolidated|bylaws section 16]])
and report to the membership.
and report to the membership.
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''Suggested motion: Moved by _______________, seconded by _______________ to appoint _______________ and _______________ to act as auditors for the Society for the financial year ending August 31, ________.
''Suggested motion: Moved by _______________, seconded by _______________ to appoint _______________ and _______________ to act as auditors for the Society for the financial year ending August 31, ________.
}}
}}
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== Preparing for the audit ==
== Preparing for the audit ==
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''(Administrator for Treasurer)''
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Prior to the audit, the following information should be provided to the auditors:
Prior to the audit, the following information should be provided to the auditors:
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* a copy of the auditors' report for the year prior to the audit
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* a copy of the current year's financial statements including
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* a copy of the year-end financial statements for the year prior to the audit
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* a copy of the audit year's year-end financial statements including
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** balance sheet
** balance sheet
** statement of income and expense
** statement of income and expense
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** deferred revenue reconciliation
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* the year-end bank statement for all accounts
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* the last bank statement prior to the year-end for all bank accounts
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* the last bill/statement prior to the year-end for all monthly accounts (e.g. credit card, Telus bills, phone.com, [[Members:Contact/Delorme/Statements|inReach]])
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* the bank reconciliation statement
* the bank reconciliation statement
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* a list of all transactions for the year (Transaction Detail by Account)
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* a list of all transactions for the year (e.g. General Ledger report)
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* the "A/R Aging Detail" report
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* a copy of the most recent inventory
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* the "A/P Aging Detail" report (to identify bills that may have been entered but never paid, or entered twice)
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* a copy of the ''previous'' year's financial statements
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* the "Transaction List by Supplier" report for the financial year (to identify bills that have been entered entered twice and paid twice).
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* a copy of the most recent [[inventory]]
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* the authorization to spend, which would be either
* the authorization to spend, which would be either
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** a copy of the audit year's [[budget]], as adopted by the board
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** a copy of the current year's budget
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*** plus a copy of the minutes adopting and amending the budget and authorizing expenditure limits
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*** plus a copy of the minutes adopting the budget and authorizing expenditure limits
*** and any minutes authorizing expenditures over the budget
*** and any minutes authorizing expenditures over the budget
** or, a copy of all minutes for the year
** or, a copy of all minutes for the year
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* a draft copy of the current year's Auditors' Report, ready for signatures
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* a copy of the previous year's auditors' statement
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''(Administrator for Treasurer)'' Arrange a time for the Auditors to meet with the Bookkeeper (Administrator or Treasurer), with the financial records.
 
== During the audit ==
== During the audit ==
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During the audit, the two auditors meet with the bookkeeper
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During the audit, the two auditors meet with the book keeper
with all the financial records.
with all the financial records.
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* the current year's balance sheet balances
* the current year's balance sheet balances
* the totals of the income and expense sheet add up
* the totals of the income and expense sheet add up
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* the difference between the audit year's and previous year's balance sheet is the difference of the audit year's income and expense
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* the difference between the current year's and previous year's balance sheet is the difference of the current year's income and expense
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* the bank reconciliation statement matches the bank statement (compare {{link|Book Keeping Task/Monthly review}})
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* the bank reconciliation statement matches the bank statement
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* any regular bills that show a current balance (e.g. phone bills) match the balance reported in the books
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* all expenditures are authorized by either the budget or board meeting motion
* all expenditures are authorized by either the budget or board meeting motion
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After reviewing the books,
After reviewing the books,
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the auditors will prepare an auditors' report.
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the auditors will prepare an auditors' statement.
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The auditors' report will state
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The auditors' statement will state
whether they believe
whether they believe
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the audit year's financial statements
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the current year's financial statements
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substantially reflects the financial state of the society at the financial year-end.
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substantially reflects the financial state of the society.
If there are any outstanding reservations or concerns
If there are any outstanding reservations or concerns
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the auditors' report should include those.
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the auditors' statement should include those.
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The audit year-end financial statements should be attached.
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The auditors' report should be signed by both auditors.
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The auditor's statement should be signed by both auditors.
== After the audit ==
== After the audit ==
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A copy of the auditors' report should be given to the bookkeeper and the board.
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A copy of the auditors' statement should be given to the book keeper and the board.
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Prior to or at the annual general meeting, the auditors' report (with the year end financial statements attached)
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Prior to or at the annual general meeting, the auditors' statement should be sent
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should be sent
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to all members of the society.
to all members of the society.
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== Reports ==
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== Audits ==
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* 2014-2015: {{link|Image:Members:2014-2015 Auditors Sign Off.pdf|cropped and rotated for presentation}} ({{link|Image:Members:2014-2015 Auditors Statement Photo.JPG|original}})
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* {{subpage|2018-2019}}
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* {{link|Image:Auditor's Report for 2013-2014 fiscal year.pdf}}
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* {{subpage|2017-2018}}
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* {{subpage|2016-2017}}
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* {{subpage|2015-2016}}
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* {{subpage|2014-2015}}
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* {{subpage|2013-2014}}
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