Annual club audit after club disbands

Marcia H. Luddeke on

Is there a reason to have the annual club audit after a club
disbands? Our club is disbanding next month; the checks
will be issued on the 16th. We normally do an annual audit
after we get the 1099s from the broker and before we send in
the taxes. Is there a reason to do the audit? Is there a
reason not to do one?

Laurie Frederiksen on

Hi Marcia,

We are sorry to hear your club is disbanding.

I would think the most appropriate time to do a final audit would be before you issue your final checks. That way, you know everything is correct in your records before you finalize your final payments.

On Fri, Nov 18, 2011 at 2:12 PM, Marcia H. Luddeke <marcieluddeke@verizon.net> wrote:

Is there a reason to have the annual club audit after a club
disbands? Our club is disbanding next month; the checks
will be issued on the 16th. We normally do an annual audit
after we get the 1099s from the broker and before we send in
the taxes. Is there a reason to do the audit? Is there a
reason not to do one?

--
Laurie Frederiksen
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