Letters to the Editor
Editor:
This letter is about financial statements and being audited to bring more clarity about the audit and discussion about not finding any malfeasance. The engagement letters that I have seen at clients from the CPA firms specifically stated that the purpose of audit was not to find fraud, the company would hire a forensic auditor if a client wanted the auditor to look for fraud.
An audit is a review of documents by a CPA who then makes a judgment. Does the client have good internal controls? The audit will select a limited number of documents (purchase orders, invoices, bank statements, bank reconciliation, loans. etc.) and documentation showing client received products or services and review them for accuracy and may follow up the clients or vendors.
GRF publishes the findings from the audit on its website. GRF should also publish the RFP for the audit, engagement letter from CPA, GRU letter addressing any issues brought up by auditor.
The 2024 CPA auditors report stated: In the auditor’s opinion, the consolidated financial statements of GRF are presented fairly, in all material respects in accordance with generally accepted accounting principles.
GRF is responsible for preparation and fair presentation of consolidated financial statements that are free of material misstatements, whether due to fraud or error.
Auditors responsibility are to obtain reasonable assurances that the consolidated financial statements are free from material misstatements, whether due to fraud or error.
Clair Weber Mutual 2 Editor:
I want to take this opportunity to express my gratitude for the Golden Age Foundation Mobility Office that is available to all Leisure World residents.
After a recent surgery, I was able to obtain all the mobility items I needed (on loan) from this office.
We are so fortunate to have this benefit available to us. I also appreciate and want to thank the volunteers who were so helpful and kind.
Docia Drake Mutual 10 Editor:
I just recently read the article in the LW Weekly about the pedestrian gate problem.
The dollar amounts for repair are substantial.
By my count there are six pedestrian gates in our community.
I wonder, do we really need six pedestrian gates?
There is a gate halfway down North Gate Road. There is a gate at the North Gate entrance,there is a gate at the Main Gate and one at the St. Andrews entrance.
There is a gate just outside of the St. Andrews entrance (Jim’s gate), and there is the church gate in the alley way (near Community Church). I know there are people here with mobility problems; however, I find the gate half way down North Gate Road, Jim’s Gate and the gate behind the church are quite possibly becoming a security issues with the rise in crime and break-ins.
These could be eliminated and walled up.
The other main pedestrian gates are accessible for people with mobility issue and not very far away from the three main pedestrian gates.
The community could possibly save some money by walling up the three gates. Maybe Golden Rain Foundation Board of Directors could consider this idea or a variation of it.
Michael Lane Mutual 5
