[Foundation-l] Audit update

[Florence Devouard]

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