The annual, independent audit of our financial statements started this week. Audits assure stakeholders – our Board, donors, and the community – that our financial statements fairly reflect the financial position of the Museum. This is important because it lets people in the community, especially those who are interested in donating their time or treasure, know that we are operating in a responsible way.
James Knutzen & Associates, C.P.A.’s, P.A. conduct the audit in accordance with auditing standards generally accepted in the USA and by the Government Auditing Standards issued by the Comptroller General of the United States. Included in their assessment, they will be looking at evidence that supports the amounts and disclosures in our financial statements. They will also be examining the accounting principles used and significant estimates made by management. Upon completion, the auditors issue their opinion and present to our Finance, Investment, & Audit Committee and then to the Board of Trustees.