Board Minutes September 2023: Difference between revisions

Board Minutes September 2023 (view source)

No change in size , 12 September 2023

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 Comments and questions:
--Kelly suggests initiating a review of past year's finances to present report at AGM.
+*Kelly suggests initiating a review of past year's finances to present report at AGM.
--Marcel asks if we would use the same auditor or if it's an internal review.
+*Marcel asks if we would use the same auditor or if it's an internal review.
--Alexandra asks what the difference between an audit and review is.
+*Alexandra asks what the difference between an audit and review is.
--John explains that a review is a form of assurance that double-checks the work of the book-keeper, and may dig into accounts and the balance sheet. An aduit is more intensive, and involves reviews of internal controls.
+*John explains that a review is a form of assurance that double-checks the work of the book-keeper, and may dig into accounts and the balance sheet. An aduit is more intensive, and involves reviews of internal controls.
--Marcel notes that additionally, it provides confidence to the members.
+*Marcel notes that additionally, it provides confidence to the members.
--Marcel moves, Matt seconds:
+*Marcel moves, Matt seconds:
 "To prepare review financial statements of past year by same account who just prepared the audit, for presentation at upcoming AGM, at a maximum of $6000.00"