Guest Janet Burgess Posted December 30, 2010 at 03:28 PM Report Share Posted December 30, 2010 at 03:28 PM Must financials be approved by the board of Directors before they can be distributed? Link to comment Share on other sites More sharing options...
George Mervosh Posted December 30, 2010 at 03:37 PM Report Share Posted December 30, 2010 at 03:37 PM No rule in RONR requires it, and actually RONR says the only financial report that should be acted upon is the report of the auditors. Link to comment Share on other sites More sharing options...
Gary Novosielski Posted December 30, 2010 at 06:12 PM Report Share Posted December 30, 2010 at 06:12 PM Must financials be approved by the board of Directors before they can be distributed?No. In fact they should not be approved before or after they are distributed. The report should be read and filed with the secretary without board action, subject to future audit. The board is neither sufficiently qualified nor informed to approve (adopt) the report at face value. Link to comment Share on other sites More sharing options...
Tim Wynn Posted December 31, 2010 at 12:26 AM Report Share Posted December 31, 2010 at 12:26 AM Must financials be approved by the board of Directors before they can be distributed?Is this a report that the board has been tasked with creating? Link to comment Share on other sites More sharing options...
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