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 '''(status: completed for 2016-2017 audit)''' '''Done''' |
- | ** balance sheet | + | * a copy of the audit year's year-end financial statements including '''(status: completed for 2016-2017 audit)''' |
- | ** statement of income and expense | + | ** balance sheet '''(status: completed for 2016-2017 audit)''' |
- | + | ** statement of income and expense '''Done''' | |
- | * the last bank statement prior to the year-end for all bank accounts | + | * the last bank statement prior to the year-end for all bank accounts '''(status: completed for 2016-2017 audit)''' '''Done''' |
- | * 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) '''(status: Done for 2016-2017 audit)''' |
- | * the bank reconciliation statement | + | * the bank reconciliation statement '''(status: completed for 2016-2017 audit)''' '''Done''' |
- | * a list of all transactions for the year ( | + | * a list of all transactions for the year (e.g. Journal report) '''(status: completed for 2016-2017 audit)''' '''Done''' |
* the "A/R Aging Detail" report | * the "A/R Aging Detail" report | ||
- | * the "A/P Aging Detail" report (to identify | + | * the "A/P Aging Detail" report (to identify bill that may have been entered but never paid, or entered twice) |
* the "Transaction List by Supplier" report for the financial year (to identify bills that have been entered entered twice and paid twice). | * the "Transaction List by Supplier" report for the financial year (to identify bills that have been entered entered twice and paid twice). | ||
- | * a copy of the most recent [[inventory]] | + | * a copy of the most recent [[inventory]] '''(status: completed for 2016-2017 audit)''' '''Done''' |
- | * the authorization to spend, which would be either | + | * the authorization to spend, which would be either '''(status: completed for 2016-2017 audit)''' |
- | ** a copy of the audit year's [[budget]], as adopted by the board | + | ** a copy of the audit year's [[budget]], as adopted by the board '''Done''' |
*** plus a copy of the minutes adopting and amending the budget and authorizing expenditure limits | *** plus a copy of the minutes adopting and amending the budget and authorizing expenditure limits | ||
- | *** and any minutes authorizing expenditures over the budget | + | *** and any minutes authorizing expenditures over the budget '''Done''' |
** or, a copy of all minutes for the year | ** or, a copy of all minutes for the year | ||
- | * 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; see email 2017-11-30 09:51 Done |
- | ''(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. '''(status: completed for 2016-2017 audit)''' '''Done''' |
== 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 totals of the income and expense sheet add up | * the totals of the income and expense sheet add up | ||
* the difference between the audit year's and previous year's balance sheet is the difference of the audit year's income and expense | * the difference between the audit year's and previous year's balance sheet is the difference of the audit 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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== 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 | ||
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== Audits == | == Audits == | ||
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* {{subpage|2016-2017}} | * {{subpage|2016-2017}} | ||
- | * {{subpage|2015-2016}} | + | * {{subpage|2015-2016}} missing |
* {{subpage|2014-2015}} | * {{subpage|2014-2015}} | ||
* {{subpage|2013-2014}} | * {{subpage|2013-2014}} |