Audit committee-agm-report-afrinic-22-tunis-barry

1. AfriNIC Board Report on 2014 Audit
By
Dr Paulos Nyirenda,
Chair: Audit Committee
paulos@sdnp.org.mw
4 June 2014
Outline
• Audit Committee mandate
• Members
• Audit for 2014 - process
• Audit report for 2014 – Financial statements
• Board issues
• Selection of next Auditor for 2015 year
Audit Committee Mandate
• Committee of the Afrinic Board
• Oversee financial reporting process
• Review financial control, risk management
• Oversee audit, internal and external
• Recommend appointment of external auditor
• Monitor compliance with laws on financial reporting

2. Audit Committee Members
• 1. Paulos Nyirenda (Chair)
• 2. Andrew Alston
• 4. John Walubengo
• 5. Kris Seeburn
Meetings
• Met 3 times since Afrinic 21
• November 2014 - face to face
– Also met with KPMG – external auditor
– Plan 2014 audit
– Letter of agreement signed
• May 2013 – 20th
and 29th
– Processed Audit Report of 2014
2013 Audit – process
• Committee met auditor KPMG in Nov 2014
• Agreed on audit plan and fees
• External audit scheduled to start 16 Feb 2015

3. • 13 check points with deadline points and dates
• KPMG to deliver report and FS by 15 May 2015
• Report draft received 15 May 2015 – bits and pieces, random
• Processed by Audit Committee on 20 May meeting
• Deadline set: full report to be delivered by KPMG on 25 May
• KPMG meets deadline: Report still marked DRAFT
• Figures changed
• Board publishes DRAFT to community
• Draft processed by Audit Committee on 29 May meeting
• Audit Committee meets with KPMG via WebEx
• Audit Report and FS unsatisfactory
• Report to the Board – 1 June 2015
• Recommend to hire a different auditor for 2015
• Recommend for comprehensive audit
• Board publishes observations on Financial Statements
• Observations cover details on FS – Board e-mail
• With updated Financial Statements & approved
recommendations
• Gives KPMG additional period to finalize FS

4. • Recommends to appoint Deloitte as auditor for 2015
• Thank you
• End
•