Re: Registration details for IETF 108

[Jay Daley <[e-mail]>]

> On 3/06/2020, at 7:11 AM, S Moonesamy <[e-mail]> wrote:
> 
> Hi Jay,
> At 10:55 PM 01-06-2020, Jay Daley wrote:
>> We have not closed the March accounts due to the complexities of accounting for the cancelled IETF 107 meeting. For example, we reimbursed flights for a number of contractors who have been trying to claim refunds and we need to show that properly in the accounts.  I hope to have it published this week.
> 
> I forgot why I was looking for the monthly statements.  Thanks for explaining why the publication was delayed.
> 
>> Could you explain the reference to an accounting system? It sounds as if you are suggesting we run the LLC without an accounting system but that would be a disaster so I must have misunderstood.
> 
> There is usually some framework between to ensure that the LLC does not run into trouble.   It is, in simple terms, to ensure that the money is not being abused.  It could also help to lessen your workload (that is a guess as I don't have visibility of what you do).

I see - you are unclear as to what financial controls the LLC has in place.  To summarise, there are the following elements to our financial control framework:

1.  The board approves a budget on an annual basis, which is the base control for what can be spent on what.

2.  The board maintains a documented set of delegations to the Executive Director - how much I can spend on what, within the constraints of the budget, and any special controls around that.

3.  The board approves a financial policy that is made up of multiple process and controls.  Most notably, it is the financial policy that specifies the separation of duties, which are the operational checks and balances necessary to prevent fraud.

4.  The board receives a monthly financial report prepared directly by the accountants independently of the Executive Director. 

5.  Every year the accounts are audited by an independent firm of auditors who carry out a range of tests to detect fraud or unintentional financial problems.  That report is then presented directly to the board and the auditors meet with the board without the ED present.

The delegations referenced in 2 and the policy referenced in 3 will be published at some point, hopefully soon.  This is waiting on the completion of a review of the financial policy triggered by our switch in accountancy firms and delayed by the pandemic.  

Please feel free to ask for such information directly rather by allusion, as that is easier for me to pick up on.

Jay

> 
> Regards,
> S. Moonesamy 

-- 
Jay Daley
IETF Executive Director
[e-mail]