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<p>[QUOTE=&quot;medoraman, post: 1277683, member: 26302&quot;]If the story is true, and if it were a non-profit, their accounting and auditing standards are much more lax than for profits. I do not think it would rise to the level of a reportable event as long as it was provable the investment was worth what was stated. So auditing wise I think it would be fine, (though a good auditor would let the Board know it was terrible practice to invest that way).</p><p><br /></p><p>The serious problem would be Sander&#039;s was not matching up the investments with the risk management prudent in such a situation. This would not be disclosed in an audit opinion, (though likely footnoted), but would put Sanders in jeapordy of being sued if the organizations lost money, and if he was certified in any way put that certification in jeapordy. I think any SEC licensing would be suspended if this was found out.</p><p><br /></p><p>Chris[/QUOTE]</p><p><br /></p>

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