Audited Financial Statements

Philadelphia Yearly Meeting’s financial statements are audited each year by an independent firm of certified public accountants.  The independent auditors’ responsibility is to express an opinion on whether the consolidated financial statements represent fairly, in all material respects, Philadelphia Yearly Meeting’s financial position and meet the requirements of U.S. Generally Accepted Accounting Principles (GAAP).  GAAP are rules, conventions, standards and procedures for reporting financial information as established by the Financial Accounting Standards Board.