[Foundation-l] Audit update
Florence Devouard
anthere at anthere.org
Fri Jul 13 12:03:05 UTC 2007
As you know, the Foundation's fiscal year end is June 30th, which means
that it's the time of year where we begin the audit process.
In the prior year, the Foundation engaged the firm Gregory Sharer &
Stuart to conduct the audit of the financial statements for the fiscal
years ending June 30th, 2004, 2005, and 2006.
The audit committee will once again, be engaging the same firm to
complete the audit for the current year.
In the coming weeks, we will be working with the firm in order to
prepare for the audit planning process. We have also engaged an
accountant and former auditor (Mona Venkateswaran) to help facilitate
the audit process, and implement any resulting recommendations that are
an outcome of the audit.
Mona Venkateswaran has been engaged on a part-time consultant basis,
working from Toronto. Her more general role is to work with Oleta (our
accountant) and Barbara (office manager) to institute new administrative
controls and procedures.
The audit committee will also be working to update the report from the
prior year, in order to reflect the progress that has been made to date.
Recently, the chair of the audit committee, Oscar, set up a wiki and a
mailing list, so that we can have a common place to work on the
procedure. Mona, Oleta, Sue and I had a meet-and-greet with the audit
firm this week. Mona, the auditors & Oleta will now begin assessing our
records; then they will be able to give the audit committee a target
date for when the audit will be done. The audit committee should hold
its own kick-off meeting within the next two-three weeks.
The planning work for the audit is set to begin by mid-August, with a
view to complete the work by end of September. We hope to have the
final audited financial statements and report for you by this time.
Link: http://wikimediafoundation.org/wiki/Finance_report#Update_july_2007
Florence
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