Dear Noah,
Please see my comments inset:
On 22/06/2017 20:28, Noah wrote:
On 22 Jun 2017 9:49 p.m., "Andrew Alston"
<[email protected]
<mailto:[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.
It is not the fault of the Staff, I did not send the Chairman's
statement on time. There is indeed a process for making the report. I
have asked that the process be changed, to give all contributors a
heads-up earlier.
We will work towards publising before the AGMM next year.
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 :-).
I did not formally call for a vote to approve the report, but I indeed
asked for anyone who still had comments or objections on the report.
Those present will recall that we decided to discuss all the reports
together, but by the time we got to discussing the reports, we needed to
go on break and come back for the elections. Everyone wanted us to move on.
The Legal counsel has advised me that since there was no objection, this
can be fixed without an SGMM.
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....
Yes. reading loud and clear.
The Auditor's Report is already published along with the Financial
Statements. The Board believes that the Management letter is a
confidential document.
Noah
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Sunday.
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Sunday Adekunle Folayan
Managing Director
General data Engineering Services (SKANNET)
16 Oshin Road, Kongi Bodija, Ibadan - Nigeria
Phone: +234 802 291 2202, +234 816 866 7523
Email: [email protected], [email protected]
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