Guest Bree Fisher Posted April 5, 2017 at 05:55 PM Report Share Posted April 5, 2017 at 05:55 PM When an Annual report, together with financial statements is provided to the members (at least two weeks prior to AGM) - can the Board issue an Addendum to the financial pages and only submit same at the AGM, with members not having knowledge of the addendum prior to the AGM Quote Link to comment Share on other sites More sharing options...
Dan Honemann Posted April 5, 2017 at 06:01 PM Report Share Posted April 5, 2017 at 06:01 PM 4 minutes ago, Guest Bree Fisher said: When an Annual report, together with financial statements is provided to the members (at least two weeks prior to AGM) - can the Board issue an Addendum to the financial pages and only submit same at the AGM, with members not having knowledge of the addendum prior to the AGM I don't know why not. Quote Link to comment Share on other sites More sharing options...
g40 Posted April 8, 2017 at 04:20 PM Report Share Posted April 8, 2017 at 04:20 PM On Wednesday, April 05, 2017 at 1:55 PM, Guest Bree Fisher said: When an Annual report, together with financial statements is provided to the members (at least two weeks prior to AGM) - can the Board issue an Addendum to the financial pages and only submit same at the AGM, with members not having knowledge of the addendum prior to the AGM I would wonder/ask how the professional work (if this applies) of a Treasurer/accountant/CPA and, if applicable, audit review of the prepared financial statements might be (in a way) undermined or compromised by such an "Addendum" (depending, of course on the contents of the "Addendum"). So, to take an extreme example, if the professionally prepared financial statements showed very unfavorable results, such as large losses, bad financial controls, fraud, embezzlements, etc, it (in my opinion) could be misleading (to say the least) for the Board to have an "Addendum" twisting these results as not being bad at all. If the Addendum, however, merely elaborates (correctly) on details consistent with the financial statements, then I do not see a problem. For example, if the financial statement shows balances in 2 or 3 categories of bank and investment accounts - an addendum might show how much (by name of institution) is in each individual account. Quote Link to comment Share on other sites More sharing options...
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