2021-09-22 OMA Agenda - Board of Trustees

Auditor Communications (Continued)

Obesity Medicine Association

AREA

COMMENTS

Qualitative Aspects Of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. In accordance with the terms of our engagement letter, we will advise management about the appropriateness of accounting policies and their application.

 The Association adopted the provisions of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). The implementation did not have a material impact on the financial statements.  We noted no transactions entered into during the year for which there was a lack of authoritative guidance or consensus.  No significant transactions have been recognized in a different period than when the transactions occurred.  The consolidated financial statements include the financial statements of both the Association and Obesity Treatment Foundation, Inc.

For Board Of Trustees And Management Use Only

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