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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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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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: | ||
| - | * a copy of the auditors' report for the year prior to the audit | + | * a copy of the auditors' report for the year prior to the audit |
| - | * a copy of the year-end financial statements for the year prior to the audit | + | ** (please upload the 2015-2016 Auditors' Report to this page) |
| - | * a copy of the audit year's year-end financial statements including | + | * a copy of the year-end financial statements for the year prior to the audit '''(complete for 2016-2017)''' |
| + | * a copy of the audit year's year-end financial statements including '''(complete for 2016-2017)''' | ||
** balance sheet | ** balance sheet | ||
** statement of income and expense | ** statement of income and expense | ||
| - | + | * the last bank statement prior to the year-end for all bank accounts '''(complete for 2016-2017)''' | |
| - | * the last bank statement prior to the year-end for all bank accounts | + | * the last bill/statement prior to the year-end for all monthly accounts (e.g. credit card, Telus bills, phone.com) |
| - | * the last bill/statement prior to the year-end for all monthly accounts (e.g. credit card, Telus bills, phone.com | + | * the bank reconciliation statement '''(complete for 2016-2017)''' |
| - | * the bank reconciliation statement | + | * a list of all transactions for the year (e.g. Journal report) '''(complete for 2016-2017)''' |
| - | * a list of all transactions for the year ( | + | |
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| - | + | ||
| - | + | ||
* a copy of the most recent [[inventory]] | * a copy of the most recent [[inventory]] | ||
* the authorization to spend, which would be either | * the authorization to spend, which would be either | ||
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* a draft copy of the current year's Auditors' Report, ready for signatures | * a draft copy of the current year's Auditors' Report, ready for signatures | ||
| - | ''(Administrator for Treasurer)'' Arrange a time for the Auditors to meet with the Bookkeeper (Administrator or Treasurer), with the financial records. | + | ''(Administrator for Treasurer)'' Arrange a time for the Auditors to meet with the Bookkeeper (Administrator or Treasurer), with the financial records. '''(complete for 2016-2017)''' |
== During the audit == | == During the audit == | ||
| - | During the audit, the two auditors meet with the | + | 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 | ||
| - | * the difference between the | + | * the difference between the current year's and previous year's balance sheet is the difference of the current year's income and expense |
| - | * the bank reconciliation statement matches the bank statement | + | * the bank reconciliation statement matches the bank statement |
* any regular bills that show a current balance (e.g. phone bills) match the balance reported in the books | * any regular bills that show a current balance (e.g. phone bills) match the balance reported in the books | ||
* 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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The auditors' report will state | The auditors' report will state | ||
whether they believe | whether they believe | ||
| - | the | + | the current year's financial statements |
| - | substantially reflects the financial state of the society | + | substantially reflects the financial state of the society. |
If there are any outstanding reservations or concerns | If there are any outstanding reservations or concerns | ||
the auditors' report should include those. | the auditors' report should include those. | ||
| - | The | + | The year-end financial statements should be attached. |
The auditors' report should be signed by both auditors. | The auditors' report should be signed by both auditors. | ||
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== After the audit == | == After the audit == | ||
| - | A copy of the auditors' report should be given to the | + | A copy of the auditors' report should be given to the book keeper and the board. |
Prior to or at the annual general meeting, the auditors' report (with the year end financial statements attached) | Prior to or at the annual general meeting, the auditors' report (with the year end financial statements attached) | ||
should be sent | should be sent | ||
to all members of the society. | to all members of the society. | ||
| - | == | + | == Reports == |
| - | * | + | * 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}}) |
| - | + | * {{link|Image:Auditor's Report for 2013-2014 fiscal year.pdf}} | |
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| - | * {{ | + | |
