Guidelines for a Successful ArtsPool-Auditor Partnership

Introduction

ArtsPool is built on efficiencies gained by shared methods of working. In addition to members and staff, it is helpful for other entities with whom we interact regularly, including auditors and tax preparers, to be willing to participate in ArtsPool’s protocols and systems, within the bounds of their duty as auditors.

Requirements

To be an auditor in good standing, auditors and tax preparers must:

  • Be licensed by the state board of public accountancy in the state of New York
  • Work in consultation with the ArtsPool Financial Maintenance Lead and member management to set a schedule for the audit
  • Accept and use the ArtsPool chart of accounts for the member’s books, unless there is a regulatory reason for requesting changes
  • Learn and accept ArtsPool’s cloud-based methods for recording electronic approvals
  • Log onto ArtsPool’s systems to retrieve requested information, including (at present) the ArtsPool app, Xero, and Google Drive
  • Provide accountant generated/owned schedules and workpapers as requested to ArtsPool staff in a timely manner, in spreadsheet form (rather than PDF-only)
  • Create a draft of the audit in a timely manner after all open items are resolved
  • Provide a draft of the audit and tax documents to ArtsPool for review before presenting findings to management or the member’s Board
  • Provide a copy of the audited trial balance in spreadsheet format
  • Provide a copy of the management letter so ArtsPool may identify internal control weaknesses to improve our own processes
  • Work toward agreement among the auditor, member management and ArtsPool as to the content of the audit before releasing it to the member’s Board
  • Document extensions applied for and granted, as needed
  • Provide final copies of audit and tax reports
  • Offer consistent feedback and judgment between members and year-to-year for substantially similar situations
  • Understand that ArtsPool is an operational administrative cooperative (not an accounting firm) and interact accordingly

These guidelines will help ArtsPool deliver a timely, accurate and smooth audit to its members. If an auditor operates outside of these practices for more than one year, without regulatory reasoning for the deviation, ArtsPool will recommend to member management that they consider a different auditor.


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