Audit Committee

Audit Committee Report for March 2017

The audit committee has been continuing to oversee the financial audit WSO is currently undertaking. The auditors are wrapping a month of intensive field work involving data sampling, records testing and reviewing WSO bookkeeping records. We expect to have the draft report in time for review at the ABC next month in San Diego.

I would like to thank the committee for their due diligence in participating in each phase along the way and always being there to discuss the complex tasks the auditors are performing for the audit. I would also like to thank Mary Jo, the current WSO Treasurer, who has been an integral part of this audit work working with our consultant bookkeeper and the auditors to

I would also like to thank Mary Jo, the current WSO Treasurer, who has been an integral part of this audit work working with our consultant bookkeeper and the auditors to provide them with all the necessary information to complete the audit very close to the project schedule.

This is a great step for ACA WSO in preparing itself for the future of the fellowship while we position ourselves to sustain the growth we see coming over the next 3 - 5 years.

Audit Committee Report for February 2017

Two members of the Audit Committee met in Signal Hill at the WSO office on February 3rd for an audit entry conference with the two auditors from the Los Angeles independent auditing performing the WSO audit. Also present at the entry conference were the WSO Treasurer and our consultant bookkeeper.

The meeting purpose was to go over the list of documentation the auditors would be requiring during the audit and to establish responsibilties for delivering the information to them.

Also discussed was the background of the organization, operations, and its purpose in order to acquaint the auditors with ACA. The meeting was approximately 3 hours in length.

The next meeting of the Audit Committee will be a teleconference held on February 28th to discuss the plan for the actual audit process.

Audit Committee Report for December 2016

The Audit Committee comprised of 5 ACA members from around the country and a trustee chair met via teleconference on Thursday, December 22nd at 6pm to finalize the Request for Proposal (RFP) to Audit the 2016 fiscal year.

The committee adopted a RFP that was sent to 7 Signal Hill areas independent auditing CPA firms on Friday, December 23rd. These firms had been contacted and interviewed by telephone prior.

The responses from three firms were received by the Audit Committee by end of day January 9th PST. 

The committee members have performed an individual preliminary evaluation and will meet as a committee on Monday, January 16th at 7pm EST via teleconference to finalize an auditor recommendation to the WSO Board of Trustees.

In service,

Bill D.
Trustee and Audit Chair 

Audit Committee Report for January 2017

The Audit Committee stayed on the project timeline throughout January by sending out the Request for Proposals as planned to 5 Los Angeles/ Long Beach area Certified Public Accounting firms qualified to perform independent audits according to GAAP standards.

The committee received 3 proposals that were sent out for initial review on the Audit Committee Slack Channel. The committee then scheduled a conference call for January 16th at 6pm to evaluate and rank the 3 proposals. After meeting for one hour the committee completed their work and prepared their recommendation report for the WSO Board of Trustees.

The Board approved the committee's selection and a motion was adopted to engage the selected audit firm. The firms were notified and a contract was signed.

An audit entry conference was scheduled for Feb. 3rd in Signal Hill to begin the project.

Audit Committee Report for November 2016

The Audit Committee was formed at the November 12th WSO Board Teleconference by the selection of a chair. Bill D, Trustee from Florida, was selected to be the chair during the Board's 3-day Strategic Planning Meeting in Delray Beach, FL and announced during the teleconference.

A call for volunteers to join the committee was sent out to the fellowship by the WSO office staff the first week of December. Anyone who would like to participate in the Audit Committee can email with a brief bio of your background in accounting, finance or business.

A project schedule for the audit has been prepared and is shown here.

Preliminary Audit Schedule