[Foundation-l] [Announcement] New Audit Committee

[Philippe Beaudette]

Frankly - while critically important, that sounds like a mind-numbingly 
boring meeting, so I'm glad that Stu, Michael, and Ad are willing to do it 
on behalf of the rest of us.

Thanks, ya'll!

Philippe

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From: "Florence Devouard" <anthere at anthere.org>
Sent: Thursday, April 24, 2008 5:52 AM
To: <foundation-l at lists.wikimedia.org>
Subject: [Foundation-l] [Announcement] New Audit Committee

> Dear all,
>
> Following the appointment of our new treasurer, the audit committee in
> charge of fiscal year 2007-2008 has been recreated.
>
> This new committee is made of three members
> * Stu West (new treasurer and board member)
> * Michael Snow (board member)
> * Ad Huikeshoven (user:Dedalus)
>
> The Chair and the Executive Director of the Foundation are non-voting
> members of that committee (Devouard and Gardner).
>
> This committee is directed to prepare our financial year external audit
> and will work with ED and CFOO on the strategy and implementation of
> various financial controls (*)
>
> For reference:
> http://wikimediafoundation.org/wiki/Audit_committee
> http://wikimediafoundation.org/wiki/Audit_charter
>
>
>
> I would like to specifically thank Oscar, who was on that committee for
> over 2 years, and most recently its Chair. It is a rather thankless and
> invisible work, so please have a warm thought in mind for him.
> Thank you to Frieda as well for the few months of support whilst we were
> looking for a new treasurer ;-)
>
> As Chair of the board of Trustees, I have the... privilege to appoint
> members to that committee, including the Chair of the committee. It
> includes the obligation to have a majority of members from the board of
> Trustees itself.
> My rationale was that expertise from Stu was the most valuable asset for
> the group to make him Chair of that committee. Michael is probably the
> most educated trustee on such topics, hence my invitation for him to
> join the group (and his acceptance). Last, Ad has been a very valuable
> member of the group for the past two years, bringing his own expertise
> and a community touch. He will also provide the group with "the audit
> history".
>
> This group may expand in the coming weeks, depending on the
> recommandations of the audit committee itself and in particular its chair.
>
>
> Thank you for the attention. Questions welcome :-)
>
> Florence Devouard
>
>
> ----------
>
> * The purpose of the Audit Committee is to represent and assist the
> Board of Directors in its general oversight of the organisation's
> accounting and financial reporting processes, audits of the financial
> statements, and internal control, and audit functions. Management is
> responsible for (a) the preparation, presentation, and integrity of the
> agency’s financial statements; (b) accounting and financial reporting
> principles; and (c) the organisation's internal controls and procedures
> designed to promote compliance with accounting standards and applicable
> laws and regulations. The organisation's independent auditing firm is
> responsible for performing an independent audit of the consolidated
> financial statements in accordance with generally accepted auditing
> standards and rendering an opinion thereupon.
>
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