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THIS IS NOT AN OFFICIAL PUBLICATION OF THE BAY COLONY CLUB CONDOMINIUM ASSOCIATION, INC. This blog was created to help Bay Colony Club Condominium (BCC) owners, resident non-owners, and employees know what’s happening in BCC. Any reader can comment on any of the articles by clicking on the “comments” below the article. The blog author is not responsible for any comments made by blog readers and may or may not agree with any or all comments. Please click on “Disclaimer” in the left-hand column before proceeding further.

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Thursday, May 24, 2012

BAY COLONY CLUB CONDO - NEW ACCOUNTANT?

BCC's Auditor
So, the BOD in its wisdom has picked a new accountant "based on the advice of our auditor."  Isn't this the same bargain basement, bottom dwelling auditor who has over looked so many weird accounting gimmicks and failures in the past?  Anybody know if the June maintenance payment goes to the same old address?

 Reprinted from the Original of Thursday, July 16, 2009

BCC budgets $6,000 for our audit. While the BOD may be happy with the auditor’s performance, BCC owners should demand more than the lame audit we got. “Audited” and “Auditor” is in quotes throughout this blog because of the quality of the product we received.
The purpose of the audit is to protect BCC owners whose money is being reported on. It is supposed to assure us that the BCC Board of Directors are properly controlling and accounting for our $2 million+ in annual maintenance fees.
This 2008 “Audit” doesn’t do it! It’s time to insist the BOD engages an auditor who realizes his responsibility is to BCC owners, not the BOD. Owners need and deserve an audit that highlights problems and suggests solutions, not one that glosses over mistakes and attempts to bury them with “prior period adjustments”.
Bernie Madoff’s outfit was "audited" too!