1 / 24

The Top Ten Financial Mistakes Cooperatives Make

The Top Ten Financial Mistakes Cooperatives Make. Presented for the Florida Electric Cooperatives Association May 20, 2010 David Johns, CPA Manager, Jackson Thornton & Co., P.C. 10. Audit Top Ten List. Number 10: Not knowing enough about your cooperative or industry. 9.

alamea
Télécharger la présentation

The Top Ten Financial Mistakes Cooperatives Make

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Top Ten Financial Mistakes Cooperatives Make Presented for the Florida Electric Cooperatives Association May 20, 2010 David Johns, CPA Manager, Jackson Thornton & Co., P.C.

  2. 10

  3. Audit Top Ten List Number 10: Not knowing enough about your cooperative or industry.

  4. 9

  5. Audit Top Ten List Number 9: Assuming your auditor knows a lot about your company or industry.

  6. 8

  7. Audit Top Ten List Number 8: Spending too much preparation time in the wrong areas.

  8. 7

  9. Audit Top Ten List Number 7: Poor communication between the accounting department and the rest of the cooperative.

  10. 6

  11. Audit Top Ten List Number 6: Not preparing your own financial statements for internal use and not performing analytical procedures.

  12. 5

  13. Audit Top Ten List Number 5: Not questioning the auditor on why they need that certain report.

  14. 4

  15. Audit Top Ten List Number 4: Blowing off internal controls.

  16. 3

  17. Audit Top Ten List Number 3: Not having support for the reconciliations you give the auditor.

  18. 2

  19. Audit Top Ten List Number 2: Not having a well-formed, documented, and communicated fraud policy.

  20. 1

  21. Audit Top Ten List Number 1: Not having an active, informed audit committee.

  22. Thank You! David Johns 615-869-2035 David.Johns@jacksonthornton.com www.jacksonthornton.com

More Related