Is there an auditor in the house part deux: Slabbed takes a quick look at West Jefferson Service Corp

We have audited the accompanying basic financial statements of West Jefferson Service Corporation (the Service Corporation), a component of the Jefferson Parish Hospital Service District No. 1, as of and for the year ended December 31, 2008. These financial statements are the responsibility of the Service Corporation’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We did not audit the financial statements as of and for year ended December 31,2008 of the Service Corporation’s 50% joint venture investments in West Jefferson MRI, LLC, West Jefferson Surgery Center, LLC, and West Jefferson CT Scan, LLC which combined represents 110% of investments in joint ventures for 2008 and 119% of earnings from joint ventures for 2008.

In accordance with Government Auditing Standards, we have also issued our report dated April 17,2009 on our consideration of the Service Corporation’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.

Auditing step #1 (2008): Determine the financial reporting entity.
Procedures for consideration: Management inquiry, Legal Council Inquiry, Search records at Secretary of State’s Office.
Results: Possible joint venture identified per Secretary of State Search. Shown below:

[scribd id=27723870 key=key-k4zbog6g0uihldcixj6]

Note for 2009: West Jefferson Industrial Medicine potential joint venture.

Note the auditors’ opinion for 2008 does not identify West Jefferson Spine Center as covered by the auditors’ opinion. In and of itself that does not mean anything as West Jefferson Radiosurgery is also not included in the Service Corp except as a creditor. Then again Ms Cassagne is only listed as the Agent for service of process for that entity.

Forgetting for a minute the 2008 audit report would not pass tech review with the State Auditor’s Office here in Mississippi as there are mistakes in the MD&A and the Auditors’ opinion, one other thing that stuck out to me was the investment in Fannie Mae bonds which were redeemed in March, 2008. I wondered who was the Hospital’s broker-dealer for that transaction.  Surely it was not Coastal Securities? Then again who knows based on what is already in the public domain.

A little known fact is that most FBI agents have accounting degrees. If  had to guess they have/had some of the same questions given all the double-dealing that previously has come to light.

sop

7 thoughts on “Is there an auditor in the house part deux: Slabbed takes a quick look at West Jefferson Service Corp”

  1. I did a good bit of searching for that and so far have come up dry. Can you spare a link to shortcut the googling for us? Thanks and welcome.

    sop

  2. From the 11/17/01 TP:

    “All in the family: The Jefferson Parish Council did not look far to fill the latest vacancy on the West Jefferson Medical Center board of directors.

    The council on Wednesday appointed West Bank land developer Jim Ward to replace his stepson, Fred Heebe, who resigned after being nominated by President Bush to be the next U.S. attorney for the Eastern District of Louisiana.

    Ward, nominated to the hospital board as council Chairman Aaron Broussard

  3. Thanks for the link and older story Telemachus. I was not clear though as there is a good bit out there on the Hospital’s board. I’m interested in the Service Corp’s Board of Directors which may be one in the same as the hospital’s board. Any help most appreciated.

    sop

  4. Relationship Between the Medical Center and West Jefferson Service Corporation
    The West Jefferson Service Corporation (the

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