 v35_pilotWhoops, there goes another AMUPremium
join:2005-12-12
Fayetteville, NY
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1 edit | Who verifies the donation? I am sure that an independent, third party accounting firm will verify all credits that should have been returned to customers were in fact donated to said charities?
Or is this going to be some type of slush fund where creative accounting hides all money in the company's account? |
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| said by v35_pilot:I am sure that an independent, third party accounting firm will verify all credits that should have been returned to customers were in fact donated to said charities? Or is this going to be some type of slush fund where creative accounting hides all money in the company's account? This is not the job of an accounting firm. So no hey likely won't verify it, because again that is not their job or what they do. |
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v35_pilotWhoops, there goes another AMUPremium
join:2005-12-12
Fayetteville, NY Reviews:
·ViaTalk
·Verizon FiOS
| said by Captina456 :
This is not the job of an accounting firm. So no hey likely won't verify it, because again that is not their job or what they do.
Are you implying that an outside accounting firm doesn't perform routine audits of this company's financial statements, which would typically include the validity of charitable contributions? |
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| said by v35_pilot:said by Captina456 :
This is not the job of an accounting firm. So no hey likely won't verify it, because again that is not their job or what they do.
Are you implying that an outside accounting firm doesn't perform routine audits of this company's financial statements, which would typically include the validity of charitable contributions? Umm, yes I am. An accounting firms job in an audit is to verify there are no material misstatements and GAAP has been applied correctly.
In other words the auditing of financial statements is simply to make sure the companies accountants did their job correctly and there are no material mistatements.
They are not looking for fraud and if a company wanted to lie about a charitable contribution it would be effortless for them to get it past the auditors. |
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