2009 May 18
Last edit: 2010 Feb 17. Click on History for changes and updates.
__MOA has had two different auditors (CPAs) in the years since 2000. Significant changes were made in the format and content in the review/audit reports by the CPA from 2000 to 2005. A major restatement of MOA's 2000-2004 income statement and other accounts was made in 2005 to correct the handling of the losses in the Pines Club Corporation. Beginning in 2006, a new CPA firm was engaged, who made further changes in both format and content. The new CPA used a different method for entering PCC's losses into MOA's accounting.
__MOA members are rightfully confused. No one on the board has explained what has happened and why. Without intervention by someone, the same errors and discrepancies are likely to be carried over into the audit reports for 2008.
__The continuation of this post is my email to MOA's CPA commenting on the 2007 audit reports which contain the possible errors and discrepancies.
Don Nordeen===========
- Key Words:_ Accounting Practices (MOA), Financial Information (2007), Financial Information (2008), MOA Operations (General/Total), Preservation Fund, accounting principles; AICPA Audit & Accounting Guide for Common Interest Reality Associations; AICPA Audit & Accounting Guide; audit; CIRA; Common Interest Realty Association; consolidated financial statement; preservation fund; transparency
