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Board tables auditor payment pending answers on MD&A and scope
Summary
Board questioned the auditor's scope and who prepared the MD&A section of the audit report, and tabled approval of a $6,000 payment to the auditor pending written answers or a follow-up meeting.
Board members reviewed the draft audit and questioned who prepared the Management Discussion & Analysis (MD&A) portion. One member noted the audit firm conducted the financial audit but the MD&A is often prepared by management; members requested clarification and proposed compiling questions for a special session or for the auditor to answer by phone.
A motion was made to table approval of payment to Donald Alban, CPA, PC for $6,000 pending responses to the submitted questions. Members raised concerns about internal controls and whether the auditor's procedures had sufficiently examined signed agreements and past disbursements; the board proposed a list of questions and, if necessary, a special meeting to review the auditor's answers.
