Re: SCAA Financial Crisis
- From: "Ken Wilson" <ken@xxxxxxxxxxxxxxxxxxxxxxxxxx>
- Date: Sun, 25 Sep 2005 20:17:21 +0100
> My understanding is there were no audits and no financial reporting to
> the membership.
if true - oh dear.
Interestingly, i find that most odd - here the audit culture is so widely
ingrained that i have just had to explain eloquently and at length that a 15
man monthly dining club with the same charge every month, no overdraft, no
bank balance greater than £100, all of whom are professional people and have
known each other for at least 20 years probably doesn't need an annual
report from a qualified accountant (me...).
Even an annual audit wouldn't necessarily have highlighted a discrepancy
though - and not just that it happened between audits.
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