Dennis Newman, C.P.A., estimates if only one C.P.A. was working on the ICRCM's 2012 audit - it would take 13 weeks to complete. That time would be reduced if multiple people were working on the audit.
GREENSBORO, N.C. -- The city got it's audit - but we have not gotten our answers.
Thursday, the International Civil Rights Center and Museum finally handed over their 2012 audit after they missed their second deadline.
No one with the museum will go on camera but WFMY News 2's Morgan Hightower spoke to an expert about how long it should have taken to complete the museum's 2012 audit.
"It would take significant time probably weeks to do because there are a lot of inter-related parties, the field work itself would probably I would say, between 3-500 hours," said Dennis Newman, C.P.A.
Newman estimates that if only one C.P.A. was working on the audit - it would take 13 weeks to complete. That time would be reduced if multiple people were working on the audit.
We wanted to know - when was this audit completed, and how long would it take for the museum to get all their information together?
The audit is dated January 17 - that is 16 days past the museum's original deadline.
Newman says it could have taken another week or more of reviews before museum staff got the report.
He says it can take six to eight weeks just to gather all the financial statements after the fiscal year ends. In this case, the fiscal year ended December 31, 2012.
The city council voted for the loan and the required audit in early September, which was 23 weeks ago. If it took the museum 8 weeks to get the paperwork together, plus the estimated 13 weeks for only one person to complete the audit - it would take 21 weeks to finish.
That would make the audit late for the museum's original January 1 deadline but it still would've been finished two weeks before the extended deadline.
There are lot of things we do not know - when did the auditor get the museum's paperwork? How many people were working on it? When did the museum get the audit? What is the reason for the delay?
No one from the museum would go on camera to answer these questions - but the Chair of the ICRCM's Board, George Clopton, released the following statement:
"The Museum continues to gain momentum and is putting multiple initiatives in place to strengthen its fundraising, visitation and operations. We look forward to a continued partnership with the City and this community as we promote this national treasure."
This is a developing story. Stay with wfmynews.com for updates.
A C.P.A. looks into the ICRCM's 2012 audit and tells WFMY News 2 how long it should have taken to complete, what it says.