Audit issues

[Bill Bindal]

A lot many amongst us have/had audit issues with new company and their new way of doing it. Is it just us or everywhere. NC should search for answers. Why are we audited. What if I own and fund my total purchases so that company has no vested interest in it. Just an idea.

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[Jim]

All agreements have required quarterly audits regardless if you are fully vested or not.

Jim Monigold

   Cell  408-202-9814

Home 408-262-3679

 

"The greater part of our happiness depends on our dispositions, and not on our circumstances"

                                                                                                                    ~Martha Washington

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[patr...@comcast.net]

Same audit problem out here in California. No one can do anything about it
but in our FOA we are actively searching to hire our own auditor, to use
just prior to or at the same time as the audits to verify the counts. We
aren't going to receive any assistance from the adversary, so we need to
protect ourselves. We all feel it is worth it, as we have large bouncing
audits sitting on the books for three months until the next audit. By the
time 3 audits go by you have no idea where you are at! Add in the problem
with asset protection and an outside accurate validation of what is actually
in the store, should remove some of those issues.

-----Original Message-----
From: Bill Bindal
Sent: Wednesday, April 16, 2014 9:15 AM

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[Bill Bindal]

Jim: I agree. But agreement does not say that we cannot re-visit. Company has brought amends reg. audit to their benefit. NC core group should only work towards bringing necessary changes to our agreement. We need to evaluate if audit provisions are any different in any other country. In Japan fresh food is guaranteed, I understand. The company which prides for changing front end cap three times a day(in Japan), can also change anything for mutual benefit. One year in the past the audit shortage nationwide was 48 million. Money in whose pocket. It will take effort, I think it is worth trying. We need to create awareness and general perception against this. More so it is all more necessary because our retail accounting system is not perfect. I did speak to Jivtesh gill to work towards bringing changes to our agreement, but he spoke with his experience and said "who listens".

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[Jim]

That's it. "Who listens" And be careful what you ask for.

Agreement changes are tilted in their favor.

[Bill Bindal]

Even when the status-quo is hurting deep enough? My personal experience is little different. I think if we have our facts and support our contention, then the other party has no option but to appreciate and agree. They may show their inability to do anything. I can surely mention a few of those examples, of anyone is interested. Mr Massa told us that our accounting system is far from perfect. That has to be fixed and made user-friendly before shortages are booked. I think there is a room for debate on this issue and better way could be found. 

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[John Irvine]

It is important to keep your own books....  When an audit happens you need to know if it is a book keeping problem or do you have a thief in the store or is it a auditor problem.  A Scan audit is the most accurate way to audit because it is taking your retail off the ISP....  Next step is they will be charging you the cost of the items missing instead of VIPing.... 

[Bill Bindal]

Hi John your message did not go through. Please re-resend. Thanks

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> On 17-Apr-2014, at 3:21 pm, John Irvine <irvi...@aol.com> wrote:
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> This message cannot be displayed because of the way it is formatted. Ask the sender to send it again using a different format or email program. multipart/alternative

[Jack Rugen]

I agree, Johnny.  We here in Long Osland 

R employing a second auditing company

To verify RGIS' counts. If there seems to

Be a counting error.

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[Jack Rugen]

I agree.  And, certainly disagree with NC/acctg firm's conclusion

Regarding audit overages.  If UR store is over 4 the year could be

Any number of reasons...not just franchisee misdeeds.

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[Jack Rugen]

SEI made an agreement w/state of NY that they would audit the 

Stores monthly.  But they haven't lived up to the rhetoric.

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