Many local unions treat an audit as a four-letter word (too bad, it’s five), but what you don’t know about audits might hurt you. John Lund, author of “Auditing Local Union Financial Records” will explain, in plain language what you need to know.
The US Department of Labor’s Office of Labor-Management Standards (OLMS) conducts audits of local unions focusing on recordkeeping practices, proper reporting of union finances on the annual LM report and internal controls. Lund will briefly explain how OLMS conducts an audit from start to finish and will walk through the types of audits outside CPAs might perform when hired by a local union.
Many local unions are required by their parent body’s constitution to conduct internal audits but aren’t always provided specific guidance. Lund will review key points about accounting for receipts, authorizing and documenting expenditures, how to inventory assets, as well as simple but proven internal financial controls, policies, and procedures.
Besides receiving the latest edition of Lund’s book, participants will also receive a set of the presentation slides.
John Lund, PhD, taught for nearly 25 years at the University of Wisconsin’s School for Workers, where he also served on the faculty of the Department of Industrial and Systems Engineering and the Industrial Relations Research Institute. In 2009, President Obama appointed Lund to serve as Director of the Office of Labor-Management Standards, where he served for four years, and then served as Labor Secretary Tom Perez’s Regional Representative for the Pacific Northwest and Great Plains states. Since then, Lund has run Pacific Northwest Labor Research LLC, a union consultancy based in the Seattle area.
When: October 7, 2021
Time: 2:00 - 3:30 p.m. (EST)
A Zoom link will be send one week prior to the event.