Finding Text
Criteria: The Organization must document and retain meeting minutes for both the Board of Directors and the finance committee.
Condition: The Organization was unable to provide documented meeting minutes for the Board of Directors or for the finance committee.
Cause: The Organization held its board of director meetings virtually through Zoom. The Zoom video files were retained by the Organization, however these electronic video files were inaccessible due to a technical error. No meeting minutes or electronic video files were retained for the finance committee.
Effect: The auditors were unable to obtain sufficient evidence regarding the completeness of governance oversight. These minutes are necessary to verify the authorization and approval of significant transactions and activities reflected in the financial statements. As a result, we were unable to determine whether any adjustments might have been necessary.
Recommendation: The Organization should document and retain meeting minutes for both the board of directors and the finance committee. These meeting minutes should be stored securely and readily accessible as needed.
Management Response: The Organization will ensure that all meeting minutes are documented and securely retained moving forward.