AUDA Auditor "Resigns"

[snoopy]

Find this latest news strange. Is it unusual for an auditor to resign? Why would they resign?

I think AUDA should state a reason for a news release like this,

 

[Scott.L]

Board Meeting 14th November 2016 at 11:00AM
Appointment of Auditor and Auditor's Remuneration
Motion proposed by Kartic Srinivasan and seconded by Erhan Karabardak that the Board endorse for Meagher Howard & Wright to be re-appointed as auDA's Auditors at the AGM and their remuneration be fixed at $10,000. Carried.

Board Meeting 19th June 2017 at 9:30AM
Appointment of Auditor
The Board discussed that the proposal received from KPMG represented better value for money. The Board resolved to appoint KPMG as auditors for 2016-17.

Well it looks like KPMG are going to find it difficult to audit the account for 2016-17 given its already done by the previous auditor.

 

[snoopy]

.Board Meeting 19th June 2017 at 9:30AM
Appointment of Auditor
The Board discussed that the proposal received from KPMG represented better value for money. The Board resolved to appoint KPMG as auditors for 2016-17.

Cheers Scott.

 

[Scott.L]

Well it looks like KPMG are going to find it difficult to audit the account for 2016-17 given its already done by the previous auditor.

wait, am i confused, KPMG will conduct a financial audit for 2016-17? hasn't that financial year already passed...and, didn't the previous auditor get re-appointed to conduct that audit?

 

[Scott.L]

wait, am i confused, KPMG will conduct a financial audit for 2016-17? hasn't that financial year already passed...and, didn't the previous auditor get re-appointed to conduct that audit?

O Man, I have gone and messed up this thread...of course KPMG will be auditing the 2016-17 accounts, the previous auditor would have done 2015-16

 

[snoopy]

wait, am i confused, KPMG will conduct a financial audit for 2016-17? hasn't that financial year already passed...and, didn't the previous auditor get re-appointed to conduct that audit?

Maybe they haven't done the audit yet.

 

[Scott.L]

Maybe they haven't done the audit yet.

it is interesting...

 

[Scott.L]

I would have thought the auditor was appointed to complete the 2016-2017 account, if they "resigned" and it was announced "today", why advise in the minutes of the Board Meeting 19th June 2017 the "Appointment" of KPMG as auditors for 2016-17?

Can we expect the annual report before the AGM.

 

[snoopy]

I would have thought the auditor was appointed to complete the 2016-2017 account, if they "resigned" and it was announced "today", why advise in the minutes of the Board Meeting 19th June 2017 the "Appointment" of KPMG as auditors for 2016-17?

Can we expect the annual report before the AGM.

Agree it is all a bit strange.

The annual report is a good question because surely this needs to be out in a month or two and it will be of great interest this year, in particular the expenses of all the consultants, legal expenses, legal settlements & travel.

 

[Scott.L]

The annual report is a good question because surely this needs to be out in a month or two and it will be of great interest this year, in particular the expenses of all the consultants, legal expenses, legal settlements & travel.

Yeah, it wont be pretty.

 

[DomainNames]

If as claimed by several people there are issues with past auDA and auDA Foundation books should this not have been picked by auditors over the years? Why do all the rumours still persist from the highest levels? Did they pick up on it, when and what did auDA and the Board do about it?

It is very strange for such a resignation..Was a resignation suggested or requested by the "new" auDA management or the auDA Board?

auDA has made massive amounts of money over the years. They still have over $10 million in the bank but many know of the lavish spending, questionable tendering and contracting expense processes.. if they existed at all in some cases.