[Owasp-board] 2012 Taxes and Audit

Dave Wichers dave.wichers at owasp.org
Thu Sep 12 13:01:07 UTC 2013


I was all for keeping on the 3 year schedule in the first place so this is
good for me.

 

From: owasp-board-bounces at lists.owasp.org
[mailto:owasp-board-bounces at lists.owasp.org] On Behalf Of Sarah Baso
Sent: Tuesday, September 10, 2013 7:53 PM
To: OWASP Foundation Board List
Subject: [Owasp-board] 2012 Taxes and Audit

 

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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