Arthur Andersen and Enron are two names that have recently been in the news. Due to the negative publicity associated with these names, Urantia Foundation feels it is important for readers and donors to know that we ended our association with Arthur Andersen after the completion of the Foundation's 1998 audit. Urantia Foundation engaged the services of Altschuler, Melvoin & Glasser (AM&G), a Chicago-based accounting firm, to audit and report on the consolidated financial statements of Urantia Foundation and affiliates and prepare necessary tax returns beginning with the 1999 year.
In 1997 and 1998, the Foundation staff observed a change in the attitude, efficiency, and pricing of the Arthur Andersen auditing team. Therefore, with the help of Gard Jameson, CPA, who serves as Trustee and Treasurer of Urantia Foundation, and our in-house accountant, Marcia Lansu, CPA, we did an extensive search for new independent auditors. After interviewing several firms, AM&G was chosen.
AM&G is a mid-sized, Chicago-based accounting firm with over 75 years experience. They are a part of American Express Tax and Business Services, Inc., and have over 700 employees. AM&G is one of the largest firms devoted exclusively to serving nonprofit organizations and privately held companies, and they are highly regarded by the philanthropic community in and around Chicago.
For over fifty years Urantia Foundation has prided itself on its yearly auditing reports and financial condition. As the number of projects supported by Urantia Foundation has grown, we have put in place a fund accounting system to more clearly reflect the sources of income and how these funds are allocated. We strive to be wise and effective stewards of the resources entrusted to our care. As we continue to grow, we are confident AM&G will provide the skills and services we expect from our independent auditors.
If you are interested in further information, please contact Marcia Lansu or Tonia Baney at the head office in Chicago.
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