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addendum to annual report


Guest Bree Fisher

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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 

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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.

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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.

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