Guest Carol Posted June 9, 2014 at 06:59 PM Report Share Posted June 9, 2014 at 06:59 PM Our bylaws state that "The auditor shall report to the members on the financial statement to be laid before the Society at the annual meeting and on those other matters required by The Corporation Act." Does a motion need to be made and voted on that the audited financial statements be received by the membership, or is it just recorded in the minutes that the report has been made? The audited statements go to the Board before the membership; does the Board need to accept, approve, or receive the statements? Link to comment Share on other sites More sharing options...
Bruce Lages Posted June 9, 2014 at 08:11 PM Report Share Posted June 9, 2014 at 08:11 PM Regarding financial reports, RONR states: "No action of acceptance by the assembly is required - or proper - on a financial report of the treasurer unless it is of sufficient importance, as an annual report, to be referred to auditors. In the latter case, it is the auditors' report which the assembly accepts." (RONR, 11th ed. p.479, ll.5-9) and: "After the treasurer has made his report to the assembly (and after any detailed report presented by the chairman of the auditing committee, if it is needed), the chair states the question on adopting the auditors' report. The adoption of the auditors' report has the effect of relieving the treasurer of responsibility for the period covered by his report,except in case of fraud". (p. 479 l. 31 - p. 480, l. 2). Also, I'd say that since your bylaws state that "The auditor shall report to the members...", the auditors' report should be presented to the membership and not the board, since board action would be meaningless. Link to comment Share on other sites More sharing options...
Guest Carol Posted June 10, 2014 at 02:29 PM Report Share Posted June 10, 2014 at 02:29 PM Thank you very much! I was getting conflicting opinions from our Board chair and auditors.- Carol Link to comment Share on other sites More sharing options...
jstackpo Posted June 10, 2014 at 03:09 PM Report Share Posted June 10, 2014 at 03:09 PM Thank you very much! I was getting conflicting opinions from our Board chair and auditors.- Carol "Conflicting opinions" about parliamentary procedure!?! Imagine that! Link to comment Share on other sites More sharing options...
Gary Novosielski Posted June 10, 2014 at 03:21 PM Report Share Posted June 10, 2014 at 03:21 PM And if the board does get the audit report before the membership, and they begin tearing out pages and attempting to swallow them, you know you have a problem Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.