Grand Guignol Meets Splatter
Meets Accountancy
At this meeting those who have wasted their time following this ugly little shitstorm of a farce (self included) may learn that, after Armanino, Pacifica’s previous auditor, refused to work with them any longer, their most recent auditor, Regalia, has now done the same. The members of the Audit Committee appear to be blissfully unaware of all this, or any of this, or even who Armanino (quite a prominent firm) might be. Or have been. Or something. Or anything.
As believers in their Mission, however, they’re sure it will all work out… somehow.
~ ‘indigopirate’
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The following is simply my running notes for this meeting. Should be essentially quite accurate, but it isn’t a court transcript, either.
Okay… so our auditors have fired us… no idea why… we haven’t asked… I suppose we should look for a new firm… for the FY2017 Audit due by mid-August… William Heerwagen said our previous auditors were very good, what if we simply approach them… I don’t know why we stopped using them… what was their name…? [Perhaps because Armanino refused to work with Pacifica any longer after their experience with Pacifica, just as Regalia, the present auditors have now just done… the board members are clearly completely unfamiliar with Armanino, its size, its reputation, or its past relationship with Pacifica.]
I think we should review the RFP we did last year… many audit firms refuse to work with Pacifica because of Pacifica’s general dysfunction, and if any might be persuaded they want to be paid a great deal… perhaps Tom [Livingston] can work miracles for us in this area… that would be helpful if he does… we wouldn’t have to do it all ourselves….
It’s gonna be near impossible now that Regalis has fired us… anyone want to take a stab at looking at the RFP… everyone will look at it, and make comments… we can write to Regalia and ask them if they have any advice for us… Regalia commented that they expect the FY2016 audit process to grind to a half if Sam Agarwal [the present CFO, who’s tendered his resignation] isn’t there… might he be persuaded to stay on a while longer… should we recommend there be an immediate replacement… perhaps we should just have an accounting firm come in… we shouldn’t discuss any of this in open session…
What should we do to get the individual units moving… preparing… how would we do this… should we write a letter to all the general managers… would we have to recommend that to the board… is there any money for any of this preparation… does anyone know…
Where is Archives located… they’re not in the Bay Area, are they… where are they located… They’re in Los Angeles…?
What about volunteer accounting help… would that conflict with the unions… oh, at BAI you don’t really have any staff… how do you run the station…? what about students… or retired people…?
Okay, that’s our Action Items. Do we have any other business?
Do we have finances to complete the audits… We don’t know that… we would have to find out… I think we do have some money kicking around… all we can do is ask the PNB or Sam or Tom… we don’t have the information.
What about the August 15 deadline… the auditors have said it was unrealistic… we have to find a new audit firm anyway… we can show earnest good will… I think that goes a long way…
Contents of the Management Letters from the past few years’ audits will have to be reserved for Closed Session.
Meeting Adjourns
Requests for Proposals
ReplyDeleteLooking for audit firm willing to work with bloated audit committee that doesnt have a clue
and managers who keep holding back data. Creativity required in order to justify unrealistic financial statements. Experience working with dysfunctional non-profits preferred.
RFP
DeleteSeeking a creative audit firm, well versed in three-card monte, shell games, and Quickbooks(TM). Experience not necessary, binge watching of American Hustle a plus.
There is an old joke about a person who is interviewing accountants and asks each one how much 2 and 2 is. The accountant who us hired answers, "How much do you want it to be?" That's the accountant for Pacifica.
ReplyDeleteLeo Bloom, the accountant in "The Producers", would be perfect.
ReplyDeleteBe real, Bernie Madoff, he has time on his hands (20-25 years?) Let's tweet him.
DeleteThose on the audit committee have to be the stupidest and laziest people anywhere. The FY2017 audit will be in default to the State of CA by June. Of course they can't get it done by then since the FY2016 will, hopefully, be done by May 31 - if they don't harrass Sam further to make him leave earlier than his stated May 4 departure date. Pacifica will be in default to the IRS and state in August for not filing taxes. They'll never get an auditor without a CFO and they won't get a CFO anytime soon, at least not anyone remotely competent. But competency has never been a desired qualification for this board - only political loyalty is important.
ReplyDelete