[N/A][All] Has Your Audit Ever Shown Anything Concerning?
My association regularly had every year's financials audited for the first many years after inception. In a couple reports we received guidance which served as useful advice. The auditors never discovered anything concerning.
For the past several years our boards have neglected to schedule any audits. I'm hesitant to ask/bother the board about it because even if there are issues (which, I want to be clear, I don't suspect), I don't have confidence that a standard audit would catch anything. Maybe I'm right or perhaps simply lacking confidence in a relatively cheap audit.
Have your audits ever revealed anything concerning where action had to be taken or perhaps it turned away prospective buyers? Thanks for sharing. Perhaps your experiences will encourage me to request my board to resume our previous practice.