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7/17/2017 10:30:56 AM
 
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Section 5: OPA Board Subject: Motion to Remove Director Trendic Msg# 988179
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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.
Well, when the GM fires almost every employee at a $1.5 million a year YC operation due to "slippage" one could argue a forensic audit is needed. Remember the bartender who reported employee theft? |
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For reference, the above message is a reply to a message where: 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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