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I am new to my Co-Op and want to learn more about the current financials that were submitted to shareholders for our annual review meeting. A trained eye I am sure can read right through them, but how does a layman find reasonable blueprint for reviewing these financials to ensure things are on the up and up??
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The independent accountant should be invited to the annual meeting to review the presentation of the audited financial. Since shareholders get financial and they just put them away, let them know through reminders to bring the audited report to the meeting so that they can follow the discussion in addition to bringing they questions to the meeting.
The responsibility of the Board is to provide the financial, not to explain it line-by-line to a layman. For this, shareholders should come to the meeting or pay his accountant or lawyer to review and explain it to them if interested.
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