MassVentures
Minutes
Audit Committee Meeting
Date and Time
Wednesday October 15, 2025 at 8:00 AM
Location
https://us02web.zoom.us/j/88933879496?pwd=ZkVTJx3ykLdaK6drCFsDvGBc4KLRNE.1&from=addon
Meeting ID: 889 3387 9496
Passcode: 010972
Committee Members Present
B. Linville-Engler (remote), B. Shim (remote), D. Schultheis (remote), J. O'Reilly (remote)
Committee Members Absent
None
Guests Present
C. Hipwood (remote), J. Madison (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
II. Audit Process Discussion
A.
Review overall audit process for fiscal year 2025 including presentation by Cherry Bekaert
The team from Cherry Bekaert delivered a presentation outlining their process, management's compliance, and overall findings. No material findings were noted. The team from Cherry Bekaert also presented the financial statements along with notes to the financial statements. Discussion ensued.
B.
Review valuation policies and practices
The team from Cherry Bekaert highlighted the change in unrealized loss and discussed the detailed examination and update to portfolio company valuations. Discussion ensued.
C.
Approve Auditor's Report
| Roll Call | |
|---|---|
| D. Schultheis |
Aye
|
| B. Linville-Engler |
Aye
|
| J. O'Reilly |
Aye
|
| B. Shim |
Aye
|
David Ginsberg, Kevin Bissell, and Jeff Solomon from the audit firm of Cherry Bekaert left the meeting.
The audit committee and management discussed the overall audit process and experience working with Cherry Bekaert.
David Ginsberg, Kevin Bissell, and Jeff Solomon from the audit firm of Cherry Bekaert are also attending the meeting remotely.