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7/17/2017 9:42:58 AM
 
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Section 5: OPA Board Subject: Motion to Remove Director Trendic Msg# 988162
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Slobodan
I am interested in your requested motion for a "Forensic Audit". Do we have any idea what one of these would cost? In my experience, these are very expensive. A normal audit examines some 5% of Association transactions and draws statistically based conclusions based on that. In a "Forensic Audit", they look at nearly 100% of the transactions. I have only seen this kind of audit undertaken when there is very high likelihood of major fraud... and I have not heard that asserted in our case. While I am not opposed to doing one of these... I believe we need much more informed discussion of the cost/benefit before embarking on this. Your proposed motion simply orders it done. Jeff |
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For reference, the above message is a reply to a message where: Good morning Joe, Below is draft text of my planned motion in case you are interested. Director Herrick denied my written request that it be added to the agenda for this Thursday's mtg. Slobodan MOTION: I motion this Board approves Forensic Financial Audit and that this Board be totally in charge of the selection and hiring of a third party certified forensic auditor or a firm with such credentials to conduct detailed examination of the Association’s records. BACKGROUND: Months ago, I recommended this Board to have this audit done because of concerns related to specific events and comments made by certain individuals. DISCUSSION: On Monday, July 10th, I requested in writing a special meeting be called and I informed this Board of my intent to submit this motion. In the same email, I requested that the old Micros Point of Sale (POS) systems remain a property of the Association and are NOT to be disposed of nor any other POS or IT equipment without Board's prior approval. I further request that the physical inventory of such equipment be checked against the Assets List. |
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Town Hall Touch of Italy - Assateague Room
1/16/2025 - 12:00 P.M. |
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OPA Board Meeting - Golf Clubhouse
1/25/2025 - 9: A.M. |
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OPA Board Meeting - Golf Clubhouse
2/22/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhouse
3/29/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhouse
4/26/2025 - 9:00 A.M. |