A Funny Thing Happened ...

At our All Members Meeting held on January 20, 2014, three quotes for our auditors were presented.  Members were not shown these quotes.  One quote was $9,200., our present auditors quoted $9,000. and after rummaging through her paperwork our Property Manager stated that the third quote from our previous auditor came in at $10,000.

A Director made a motion to accept our previous auditor's quote.  The Treasurer strongly interjected saying that our previous auditor never had the Financial Statements in on time and on and on.  So strong was her objection that the Director who had suggested voting for our previous auditor shrunk back in her seat and said (paraphrasing) 'OK, OK, not him'.  Members laughed and voted for our present auditors.

I would like to say at this time that the reason why our previous auditor had difficulty in preparing the Financial Statements was because the Board of Directors was so dysfuntional that he couldn't get the appropriate paperwork.  The co-op was semi taken over shortly thereafter.

This auditor's name was bandied about in a negative fashion for more than five minutes.  And here's the point of this blog entry - the auditor in question did not submit a quote to do our Financial Statements.