Audit Committee

Audited Financial Statements - 2016

Dear Fellow ACA Members,

The beginning of this year the ACA WSO Board of Trustees commissioned a financial audit for the fiscal year beginning January 1, 2016 and ending December 31, 2016.

The auditors, Vaquez & Company from Los Angeles, were hired as a  completely independent accounting firm and had no affiliation with WSO, the trustees, or employees.

We are pleased to present the Audited Financial Statements and Management Letter to the membership. We knew going intothe audit we needed to improve our accounting procedures and with their report the auditors have given us a roadmap to do precisely that.

The links below provide access to the audited financial statements and the management letter.

ACA WSO_Audited Financial Stmts_2016.pdf

ACA WSO Audit Management Letter 2016.pdf

If you have any questions about these statements, please contact me until we seat a new Audit Committee Chair.

In service,

Bill D., Treasurer and CFO
ACA WSO Board of Trustees
treasurer@adultchildren.org

Audit Committee Report for June 2017

The WSO Board of Trustees is scheduled to receive the final financial audit report at its next working session on July 13th. The auditors, the audit committee, and the board have completed their review of the 3rd drafts of the audited financial statements and management letter and will formally present the audit to the board. 

This will conclude the audit process when the audit report is subsequently released to the membership in the coming weeks.

As the new treasurer, I cannot continue in my role as Chair of the Audit Committee, as it would not be appropriate for the Audit Committee Chair and Treasurer/Finance Committee Chair to be the same individual.

Thereforewe are still looking for someone with extensive background in accounting or non-profit governance to take over this responsibility after the audit is delivered.

In service,

Bill D., Outgoing Audit Committee Chair

Audit Committee Report for March 2017

The audit committee has been continuing to oversee the financial audit WSO is currently undertaking. The auditors are wrapping a month of intensive field work involving data sampling, records testing and reviewing WSO bookkeeping records. We expect to have the draft report in time for review at the ABC next month in San Diego.

I would like to thank the committee for their due diligence in participating in each phase along the way and always being there to discuss the complex tasks the auditors are performing for the audit. I would also like to thank Mary Jo, the current WSO Treasurer, who has been an integral part of this audit work working with our consultant bookkeeper and the auditors to

I would also like to thank Mary Jo, the current WSO Treasurer, who has been an integral part of this audit work working with our consultant bookkeeper and the auditors to provide them with all the necessary information to complete the audit very close to the project schedule.

This is a great step for ACA WSO in preparing itself for the future of the fellowship while we position ourselves to sustain the growth we see coming over the next 3 - 5 years.

Audit Committee Report for April 2017

I am pleased to announce that the first ever WSO financial audit is progressing as reported at the Annual Business Conference Meeting held April 20-21, in San Diego. The auditors are completing their 2nd drafts of the audited financial statements and management letter. We have already reviewed and commented on the 1st draft of the financial statements and should have the 2nd draft by the target date of 5/15.

Once that draft has been reviewed by the Board of Trustees and the Audit Committee, it will be returned with any comment to the auditors to be put into the final draft of the report. and management letter by the end of the month.

As the new treasurer, I cannot continue in my role as Chair of the Audit Committee, as it would not be appropriate for the Audit Committee Chair and Treasurer/Finance Committee Chair to be the same individual.

Therefore I am looking to the existing Audit Committee members to either select an individual from their ranks, or recruit someone with extensive background in accounting to take over this responsibility after the audit is delivered. Since there is no Audit Committee activity currently for the same fiscal year I am serving as Treasurer there is no conflict at this time. That will change after the final audit report is delivered and I look forward to leaving the Audit Committee in capable hands.

In service,
Bill D., Outgoing Audit Committee Chair

Audit Committee Report for February 2017

Two members of the Audit Committee met in Signal Hill at the WSO office on February 3rd for an audit entry conference with the two auditors from the Los Angeles independent auditing performing the WSO audit. Also present at the entry conference were the WSO Treasurer and our consultant bookkeeper.

The meeting purpose was to go over the list of documentation the auditors would be requiring during the audit and to establish responsibilties for delivering the information to them.

Also discussed was the background of the organization, operations, and its purpose in order to acquaint the auditors with ACA. The meeting was approximately 3 hours in length.

The next meeting of the Audit Committee will be a teleconference held on February 28th to discuss the plan for the actual audit process.