[TheForge] Re: TheForge Digest, Vol 4, Issue 1173

[Will Hightower]

>
> So, Will, since you brought up the expense of a full audit, how much would
> one cost? It would help considerably if there were a financial goal to
> strive for. And, how much would it cost to set up an escrow account, for
the
> monies to be collected in?


Well, one year's full audit would run in the range of $150,000. to ????.
There is no set figure that can be quoted.  Basically you hand the audit
firm your checkbook.  To audit ABANA for the time that they've been around,
I have know idea.

My question is, to what end?  Most of the things that people have bitched
about come under judgment, not financial.  And, there is always two or more
view on judgment.  No audit is going to resolve judgment questions.

As for the person that talked about IRS 501 C3 requirements, that all has
been met to the letter of the law.  If you don't think so, check with the
IRS.

As far as escrows for audit money, go for it.  Just don't ask ABANA to setup
the accounts or hold auctions.  That would be like asking the fox to guard
the hens.

People that compare this to major corporations just don't have a grip.
There is nothing in ABANA that is worth the effort of any kind of shady
action.

What until you see the latest rants coming down the electrons.

Later

Will Hightower