26 May 2016 - The financial statements for the year ended 31 December 2015 have been prepared and audited and approved by the Board. They will be signed after approval by the members at the AGMM on 9 June 2016. The unsigned financial statement and audit report are available here.
The following message from the Chair of the Board gives more details:
I understand that the auditors don't want to sign the financial statements before two Directors (designated by the Board) sign. This is coming after the Board has already designated two Directors to sign the Letter of Representation (LOR) from the Auditors, which has since been returned to them.
Whereas the Board can authorise two directors to sign now, before the membership has approved the Financials, the bylaws suggest that it’s not the right process.
The Board, in turn doesn’t want to sign before the membership approves at the AGMM.
Whereas the Board understands the desire of members that the Financials should be signed by the Auditors before it is presented, we need to break the loop.
Since the financial statements have been prepared, audited, and approved by the Board;
they will not be signed by the auditors until after the Board signs, and the Board will not sign until after the membership approves;
It is therefore reasonable that the membership will be presented with unsigned financial statements to approve.
The Board has therefore asked the CEO to publish the unsigned financials ASAP.
Best Regards ....
Chair, AFRINIC Board