[Owasp-board] 2012 Taxes and Audit

Michael Coates michael.coates at owasp.org
Thu Sep 12 04:50:14 UTC 2013


I think it is sensible to wait until the beginning of 2014 too for an audit
of 2013.
On Sep 11, 2013 9:38 PM, "Seba" <seba at owasp.org> wrote:

> ok4me to postpone it to 2013.
> Seba
>
>
> On Wed, Sep 11, 2013 at 1:53 AM, Sarah Baso <sarah.baso at owasp.org> wrote:
>
>> Board Members -
>>
>> I have a couple of updates on our 2012 taxes and proposed audit for this
>> year....
>>
>> First, Alison worked with our accountants earlier this year and filed an
>> extension for our 2012 taxes (as we have done in the past).  The 2012 taxes
>> are now due November 15th and Alison is currently finalizing one open
>> invoice from last year and then will get things over to the accountants to
>> put the taxes together.  I anticipate that we will have everything to
>> review in the next 2-3 weeks.  I will review them and you will each have a
>> chance to review as well before we file them.
>>
>> Additionally, although the next scheduled audit year for us was 2013 (we
>> have typically done them every 3 years), at the Board Meeting in Germany we
>> discussed and decided to have an audit done for 2012 due to the addition of
>> the European entity and changing tax laws.  Alison spoke with our
>> accountants about this and the earliest they could schedule us for the
>> Audit is early November.  Also, the price will be going up significantly
>> since last time (close to $10,000 instead of $5,000 due to growth of our
>> org and finances and number of details to be reviewed since we now have a
>> European entity, in addition to the Accountant's fees generally going up).
>>
>> Althought the accountants were hesitant to officially "green light" all
>> of our practices, they did spend a full day with Alison recently going
>> through all of her practices and answering questions she had about trickier
>> issues such as tracking events that have transactions over multiple years,
>> transferring money between our US and EU entities, and tracking chapter and
>> project funds.  The accountants seemed to think it would be better for us
>> to just wait until next year for our audit since 2013 will be almost
>> over... we could even try and do it towards the beginning of next year.
>>
>> With these updates in mind, what are your thoughts in postponing the
>> audit to be a review of 2013 as was originally scheduled?  Or do you still
>> want to go ahead with the 2012 review in November?
>>
>> Thanks,
>> Sarah Baso
>>
>> --
>> Executive Director
>> OWASP Foundation
>>
>> sarah.baso at owasp.org
>> +1.312.869.2779
>>
>>
>>
>>
>>
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>>
>
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