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AFRINIC ANNUAL AUDIT REPORT AND FINANCIAL STATEMENTS ON 2014

03 June 2015 

 

AFRINIC BOARD OBSERVATIONS TO THE COMMUNITY

Click here to access the Draft Financial Statement 2014


1. The AFRINIC Board met on 31 May 2015 and received a report from its Audit Committee on the 2014 annual audit and also received the draft 2014 Financial Statements (FS). The Board reconvened on 1 June 2015 to further consider the reports from the Audit Committee.


2. The Board has found it necessary to send this statement of its observations so that the community has time to consider the details in preparation for the AGMM.


3. The Board also attaches the final draft of the 2014 Financial Statements as a follow up on its first release of a preliminary draft provided on 25 May 2015.


4. The Board notes that its Audit Committee met as scheduled on 20 May 2015 to consider the Audit Report from the AFRINIC external auditor, KPMG, that was due on 15 May 2015. This was followed up by another meeting on 29 May 2015 that was designed to prepare a report for the Board.


5. The Boards notes that the 2014 audit was to be conducted and monitored based on a time-line that was agreed by the Board through its Audit Committee, AFRINIC secretariat coordinated by the Finance Director and the Auditor, KPMG.

Electronic and Paper Proxies during the AGMM

 

29 May 2015

Electronic and Paper Proxies during the AGMM

The Board has passed the following two resolutions, on handling of electronic proxies and paper proxies.

 

1. Motion on electronic proxies:

Considering that:

a) Article 12.12(x) allows electronically generated proxy instruments, in a format determined by the Board

b) The e-voting system records all such proxy instruments generated

c) There is the need to clarify whether proxy instruments are to be used for voting in elections only or for the passing of special resolutions only, or for both exercises

d) The e-voting platform allows multiple proxy instruments to be generated for distinct purposes

The Board has resolved that proxy instruments generated by the e-voting system shall be valid for:

a) Voting in specific AFRINIC elections

b) Voting of special or ordinary resolutions

c) Any other voting exercise, indicated by the Member, in the proxy
instrument

 

2. Motion on paper proxy instruments:

Considering that:

a) Article 12.12(vii) of the bylaws gives the Board the right to determine the format of the proxy instrument to be used during AFRINIC's AGMM

b) Previous guidelines regulating the use of paper proxy instruments required members to affix their company seal for the purpose of authentication

c) AFRINIC has received representations to the effect that some Members may not have company seals

d) There is now the need to clarify whether the paper proxy instruments are to be used for elections, or for voting of Special and Ordinary resolutions or for both exercises

The Board has resolved that paper proxy instruments shall be recognized as valid if:

  1. The proxy instrument is printed on the official and actual letterhead of the Member
  2. The paper document embodying the proxy instrument must be duly signed by:

i. Either a registered administrative contact of the Member. (For the avoidance of doubt, AFRINIC's database shall be used for counter verification), or:

ii. A director of the company, on whose letterhead the paper proxy document has been printed, and whose name is listed on the said letterhead.

  1. The affixing of Company seals to the paper proxy instruments is not mandatory.
  2. Members who are natural person and who do not have a letterhead are exempted from the obligation of printing the proxy instrument on a letterhead.
  3. Members appointing a proxy may, at their discretion, include on the proxy instrument a note as to whether same shall be used for voting in elections only, or for voting of resolutions only or for both exercises.
  4. Where no such note is included, the proxy instrument shall be valid
    for all business conducted at the AGMM.

For more information, please browse to the following pages:

AFRINIC Board of Directors' Election Process

AGMM Information

   

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