On 22 Jun 2017 9:49 p.m., "Andrew Alston" <[email protected]> wrote:
Noah – An annual report – by law – has to contain the financials – audits cannot even BEGIN until after the close of the financial year – and audits take time – and yes – I am also not all that pleased that the “friendly” audit report is not out yet – but asking for a report in Q1 that is required to contain financials is entirely unrealistic. Here is the thing – while the board of directors has the power to approve the financials, and then bring them to the floor for adoption by the members – until such time as they are approved and I would say adopted – they cannot realistically be included in the “friendly” annual report – because the financials actually **ARE** the annual report – the friendly version is what is added to that. So – either an annual report goes out with financials the community has not adopted – and by the way – annual reports are meant to be filed and once released are very difficult to withdraw and change – or – the community still gets to adopt the financials before they get put into formal publication – one way – you can have an early annual report – the other way – you can adopt the financials – but it can’t be both – that’s not the way it works. Andrew, Alright then and I get what you are saying, but the concern is still the 6 months delay its taken and is only expected in July 2017. IMHO, the FS is a summary of the activity of AFRINIC in a given year financially. As such, it would make sense for the report that explains the details of the FS pending adoption by community and a report on AFRINIC activities to be made available at the same time as the FS. AFRINIC should combine both if need be and publish them as earlier as April and before AGMM. By the way – I have a serious and pressing concern that I will be raising on the members list about the adoption of the financials – because I only realized this AFTER the Nairobi meeting – under section 7.6.(i) the community has the power to adopt the financials – and unless I am mistaken – this was not done – so I would like to ask the board of directors when this community will get to adopt said financials. As far as I remember, you were seated with fellow board members during the discussion on the FS and if memory serves the Chair called for the adoption of the FS after the community discussing it and no one in the room objected. I could also be wrong unless I check the video archives on youtube :-). And while on the subject of transparency, I would also ask, that the board disclosure **ALL** the audit reports – inclusive of the management letters which form part of the auditor’s report – as per section 7.6.(ii) which expressly says that the registered and resource members have the right to receive **ANY** auditor’s report. The board is reading.... Noah
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