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 Audited Accounts

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Posts : 24
Join date : 2010-07-08

PostSubject: Re: Audited Accounts   Tue May 22, 2012 9:48 pm

There are no independent auditors, same as there are no plans for Costambar. There are no results from the court cases of residents whom do not pay their maintenance fees, there are no answers as why APC has to pay Yash's court expenses..Do not wait on any report or answers to your questions..This is how Yash work.
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Posts : 36
Join date : 2010-10-01

PostSubject: Re: Audited Accounts   Tue May 22, 2012 6:43 pm

If the accounts were indeed independently audited, then the name of the independent accounting firm or auditor will be evident on the copy in the APC least it should be. Perhaps someone could I am not in the DR now..
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Posts : 93
Join date : 2009-04-10
Age : 79
Location : Changeable

PostSubject: APC AUDITED ACCOUNTS.   Fri May 11, 2012 4:15 pm


Thanks for pointing out what I - not being versed in these matters as you are - forgot to point out to the current Treasurer.

You are absolutely correct in your observations and in fact (plus for the benefit of any interested parties), article 12-D in the current version of Costambar's Statutes reads as follows:

" The accounting system will be in conformity with article 19 of decree 40-08, which will allow for an accurate image of the patrimony and APC's financial situation, as well as the activities realized. APC's financial report prepared by the General manager and Treasurer will be submitted to the inspection of an accountant outside the Association".

Of course, at the time such report and audit were due for presentation to and approval by the General Assembly, the Treasurer was none other than Yash himself, who was in effect charged with the responsibility to have obtained such an audit beforehand. The audit now alluded to by the current Treasurer, did not take place until long after the General Assembly and the so-called "election".

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Posts : 108
Join date : 2009-04-10

PostSubject: Re: Audited Accounts   Fri May 11, 2012 3:49 pm

That is a very good question Ken. For our personal companies I am the Internal Financial Auditor but we use an outside Accounting firm once a year they review and prepare the Financial and Tax Statements.
Who is the Auditing Firm Stanley ? If it is not an outside firm there is no actual Audit I hope there was an outside firm used.
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Ken Fisher

Posts : 6
Join date : 2011-01-29

PostSubject: Re: Audited Accounts   Fri May 11, 2012 3:36 pm

My last job before I retired was a senior auditor for Her Majesties Prison Service. It was not financial auditing but security auditing but the principals are the same. As I understand it an organisation has a treasurer or financial manager who maintains the financial records of the organisation, including profit and loss and records of all expenditures. An AUDIT is when and INDEPENDENT person or organisation check those records to give shareholders in the said organisation a guarantee that all money is correctly accounted for. In this case this would be the residents of Costambar who pay money to APC to maintain the project for the residents. I believe the words 'independent audit' are in the Costambar constitution. Can you tell the residents who was the independent auditor who checked the books. If it was yourself Stanley then I believe your position on the board would negate the validity of the audit.

Ken Fisher
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Posts : 93
Join date : 2009-04-10
Age : 79
Location : Changeable

PostSubject: 2011 AUDITED ACCOUNTS.   Wed May 09, 2012 5:11 pm


Thanks very much for your message appraising us of the fact that (at long last) the 2011 audited accounts have been posted outside the APC Office.

But.........did anybody on the Board stop to think many of the interested parties are back at home abroad and therefore unable to bodily go outside the APC Office to view such documents?

How about entering the XXI century and posting this information right on this Forum for all to see, or, the president could post them on the Costambar E-mail Group as well.

They ought to be posted in Spanish as well, for the benefit of those residents not fluent in English, just like they have to be requested in writing.

Thanks in advance for your attention to these details.




Gracias mil por su mensaje informandonos del hecho de que (al fin) la auditoria de las cuentas del 2011 estan disponibles para verlas fuera de la Oficina de APC.

Pero.............acaso algien en la Directiva se ha dado cuenta de que muchos de los interesados en verlas ya estan de regreso en sus hogars en el extranjero y de por tanto, no podrian transportarse fisicamente en frente de la Oficina de APC para verlas?

Que le pareceria entrar al siglo XXI y publicar tal informacion aqui en este Foro mismo, o, el presidente tambien podria enviarlas via el Grupo E-mail de Costambar.

Estos reportes tambien deben ser publicados en Espanol, para beneficio de aquellos residentes que no hablan Ingles, tal como se tienen que solicitar por escrito.

Gracias por adelantado por su atencion a estos detalles.

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Posts : 42
Join date : 2012-02-14

PostSubject: Audited Accounts   Thu May 03, 2012 8:05 pm

To those who may be interested:

The audited accounts for 2011 are now posted on the APC office notice board for perusal.

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