Rules of audit

[Unregistered]

Rules should be set:

Handled internally
Issues found and resolved
Implement changes
Move on and no dwell in the past

If that’s the audit we plan to have the members would be all in agreement.

[Unregistered]

Rules should be set:

Handled internally
Issues found and resolved
Implement changes
Move on and no dwell in the past

If that’s the audit we plan to have the members would be all in agreement.

I agree but our morons want to spend $50,000.00 to $100,000.00 for 5 years worth of audits and fraud audits. The cost of audits are calculated on the amount of money involved. So for example to conduct an audit of a $500,000. to 1,000,000.00 funds runs between $8,000.00 to $10,000.00 per year. Should you want a fraud audit that cost about doubles. I can think of a lot better ways of spending that much money. Besides no one here even has an idea of what they think is being misrepresented they are just blinded by their hate for Ortiz and Lugo.

[Unregistered]

I agree but our morons want to spend $50,000.00 to $100,000.00 for 5 years worth of audits and fraud audits. The cost of audits are calculated on the amount of money involved. So for example to conduct an audit of a $500,000. to 1,000,000.00 funds runs between $8,000.00 to $10,000.00 per year. Should you want a fraud audit that cost about doubles. I can think of a lot better ways of spending that much money. Besides no one here even has an idea of what they think is being misrepresented they are just blinded by their hate for Ortiz and Lugo.

I think it works both ways both sides have drawn battle lines and are trying to destroy each other. How about call a meeting and handle it like men. Agree on the terms shake on it and move on. All this will lead to is drama in the end.

[Unregistered]

Whortiz is doing everything he can to stop the members from a REAL audit who will help him stop it
Who will be bought

[Unregistered]

Lets try this. Just find 2 to 3 fraud or questionable transaction and let the feds investigate it. Your talking about close to 5 million dollars. I’m sure your going to find something when ortiz is acting like this and the bS excuse that a real audit was done by the one percent administrator what a joke.
If they find fraud we can get the money back from the offenders.

[Unregistered]

Lets try this. Just find 2 to 3 fraud or questionable transaction and let the feds investigate it. Your talking about close to 5 million dollars. I’m sure your going to find something when ortiz is acting like this and the bS excuse that a real audit was done by the one percent administrator what a joke.
If they find fraud we can get the money back from the offenders.

You won’t find a damn thing bring it.

[Unregistered]

Na burn each one of them at the stake.

[Unregistered]

Not all fraud auditors work for the money, its about justice, efficiency improvements, and transparency. Never accept an internal as mentioned above bc you need to remove the bias and politics. Many FAs work on an agreed percentage if findings. So, if that includes nit only malfeasance but inefficiencies found . You define your scope and pay accordingly. Agreement fees based on findings allows you to recoup those fees on charges.

[Unregistered]

Not all fraud auditors work for the money, its about justice, efficiency improvements, and transparency. Never accept an internal as mentioned above bc you need to remove the bias and politics. Many FAs work on an agreed percentage if findings. So, if that includes nit only malfeasance but inefficiencies found . You define your scope and pay accordingly. Agreement fees based on findings allows you to recoup those fees on charges.

Never heard of one like this I have been involved with different business the auditors want to be paid. They charge you boy can they charge you if a guy says he or she will do it based on the above, run away and run fast.

[Unregistered]

Nice try. Those that structure a fee based on 5-10% of findings understand the job gets done . Flat fees only cover the show up and security expense. Split fee agreement structures ensures work gets done . Nice try.