AUDIT: Not what GOP is doing
The use of the term “audit” in Thursday’s article “Local GOP to Audit Records” should have a disclaimer. By touting the process as it is going to be done by the two certified public accountants specifically named (one current, one retired), your article implies that this will be an audit — noun here, not verb as in the article title — as most would understand by professional accounting standards. Independence appears to be an issue, if not in fact then definitely by appearance, because “they seem to represent the two factions in the party.” The financial records can be audited but should be done by an independent CPA who has no material affiliation with the organization.
The GOP has issues but I am sure either one of the professionals that are mentioned in this article, if they had been contacted, would have addressed the description of the service and would have called it an agreed-upon procedure. I am sure that John and Cathyanne can make a competent assessment of the financial strength of the organization and possibly make recommendations for controls in the future, however, whatever process they go through will not be an audit in the sense that most certified public accountants and the general public use the term.
SUZANNE METZGER, CPA
Coeur d’Alene