The Audit Committee stayed on the project timeline throughout January by sending out the Request for Proposals as planned to 5 Los Angeles/ Long Beach area Certified Public Accounting firms qualified to perform independent audits according to GAAP standards.
The committee received 3 proposals that were sent out for initial review on the Audit Committee Slack Channel. The committee then scheduled a conference call for January 16th at 6pm to evaluate and rank the 3 proposals. After meeting for one hour the committee completed their work and prepared their recommendation report for the WSO Board of Trustees.
The Board approved the committee’s selection and a motion was adopted to engage the selected audit firm. The firms were notified and a contract was signed.
An audit entry conference was scheduled for Feb. 3rd in Signal Hill to begin the project.