Rudy18

Yes, anything other than unqualified is the exception, not the norm. It is very rare for an organization in the $1mm+/yr revenue range to not have their books together, as anything else is either incompetence or actually cooking the books. I’m still pretty new to the industry (will hopefully be a fully licensed CPA by the end of the year) but I haven’t run into anything but unqualified yet either.

It’s a question of whether the bank(s) archived these records, because VMAPA clearly didn’t. If the auditors couldn’t find evidence then it’s probably because the bank(s) don’t have them either. Otherwise, it could be an issue of the numbers in VMAPA’s records not actually matching the bank statements, and if the difference was large enough that could be the reason for the qualified issuance. I don’t know when VMAPA/other corps’ fiscal year typically runs through but if they have truly been committed to fixing the organizational issues over this last year, their 2023 audit should paint a much clearer picture.

I’ll take a closer look at this when I get home from work, I’ve been curious in waiting for this all to be released too.

I don’t specialize in Government & NFP accounting so there may be a regulation about the specific (mis)use of these types of funds and possible resulting lawsuits, though I can’t say for sure given that we don’t actually know whether the funds were misappropriated or not. Everything could be perfectly fine - just that the accounting manager did a terrible job of maintaining records and evidence - or their stated numbers could be completely off due to fraud or error, there just isn’t evidence to say one way or the other.

I am not super well versed in SCV’s financial statements specifically, however some of what RL is saying certainly appears to be true - though he certainly has a negative/pessimistic view - but the issue at hand is that SCV’s accounting records are so bad that it is impossible to verify whether the numbers they are claiming for 2021-2022 are accurate. In most instances where there is a scope impairment due to a lack of sufficient appropriate audit evidence the auditors would choose to deliver a “disclaimer of opinion”, however the missing records cover so much of the organization’s operations and are of such material amounts that Qualified or Adverse are really the only options left.

I am an auditor at a public accounting firm and can clarify the accounting lingo and provide some general insights into this report, AMA.

I have been so hopeful for this show to bloom into something special late season (pun intended). Musically this show would be top 12 if cleaned and sufficient adjustments made. Scouts were 11th in brass earlier this week, now 16th, and they’re already scoring higher in some achievement captions than content. It seems that the Scouts make considerably fewer changes to their show each season than their peers, which is really holding them back from developing a solid concept. San Antonio is THE place to debut some radical new elements ala BAC as the corps performance determines their performance groupings for the rest of the season. But now the Scouts got passed by Academy and they’re slotted in the 16-18th performance bracket. I can’t believe we’re halfway though the competitive season and the ball is still a nothingburger. I’m not counting them out yet, but the clock is ticking and other corps are working just as hard!

Scouts have a lot of room to grow and clean with this show, unlike last year. They might not score amazing these first couple weeks but with the right changes I wouldn’t be surprised if they get within finals contention range by the end.

Visually this show was pretty great, especially for being a preview show. Musically though, I’ve gotta say its one of the most boring shows I’ve seen this decade, at least in the brass.

So it’s fine to dump on Scouts for choosing to do their closer standstill at their preview, but no one bats an eye when Crown omits their whole closer from their preview show?

Well the point still applies, a lot of corps moved in over a week earlier than Scouts.

Scouts moved in a bit later (entering week 4 now) vs some going into week 6 already. Factor in the typical weather delays and the Canadian wildfires and I’d say it’s pretty impressive that they got a few full runthroughs in over the weekend.

Better to start too hard and water down than to build up. I haven’t seen much from other corps in similar placement ranges but I don’t think they’ll place any lower than last year.

Video is still processing per corps director.

This should dispel any questions of Boerma’s involvement