In a guest opinion for the Coeur d'Alene Press, Suzanne Metzger, a member of the finance committee for the North Idaho Fair, explains the differences in the type of audits in reference to County Clerk Jim Brannon's call for an audit of the North Idaho Fair's numbers:
As a certified public accountant, a longtime Fair supporter and patron, and now — as of Wednesday — a member of the finance committee for the Fair, I am again frustrated to see the term ‘forensic audit’ in a headline or an article involving the Fair, the Board of County Commissioners, and the County Clerk. I liken it to yelling fire in a crowded movie theater in terms of the gravity of audits. So what is the difference in a financial statement audit, an internal audit, and a forensic audit? And what does this mean to in terms of the Fair and its financial soundness? Let’s take a look. More here. (Photo of Suzanne Metzger courtesy of Coeur d'Alene Press)
D.F. (Dave) Oliveria joined The Spokesman-Review in 1984. He currently is a columnist and compiles the Huckleberries Online blog and writes about North Idaho in his Huckleberries column.
As a certified public accountant, a longtime Fair supporter and patron, and now — as of Wednesday — a member of the finance committee for the Fair, I am again frustrated to see the term ‘forensic audit’ in a headline or an article involving the Fair, the Board of County Commissioners, and the County Clerk. I liken it to yelling fire in a crowded movie theater in terms of the gravity of audits. So what is the difference in a financial statement audit, an internal audit, and a forensic audit? And what does this mean to in terms of the Fair and its financial soundness? Let’s take a look. More here. (Photo of Suzanne Metzger courtesy of Coeur d'Alene Press)
