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Minutes of a tele-conference of the Executive Board held 10am, London time, 10 March 2014.

                                 INTERNATIONAL FEDERATION OF AUDIT BUREAUX OF CRCULATONS

Minutes of a tele-conference of the Executive Board held 10am, London time, 10 March 2014.

Present :
Mr Jerry Wright – President – in the Chair
Mr Hormuzd Masani - Treasurer
Mr George Bohlander
Mr Manuel Sala
Ms Iwona Szczesna
Mr Pedro Silva
Mr Paul Dovas

Apologies :
Mr Magnus Paulsson

In Attendance :
Mr J Matthews representing
Macomm Management Services Sdn Bhd
Secretaries to the Federation

1. MINUTES: The minutes of the tele-conference meeting of the Executive Board held 18 February 2014 having been circulated, were taken as read and confirmed.

2. MATTERS ARISING

2.1 IFABC Workplan 2010-2012

a. Promote the growth of bureaux in new geographies - Mr Manuel Sala said that there have been no major movements since the last meeting. He was exploring the situation in South America.

The Secretaries said that Nepal and Kenya, who had shown interest in establishing bureaux, have acknowledged the receipt of the correspondence from the IFABC.

b. Norsk Mediakontroll AS – The Secretaries said that as agreed at the previous meeting, an email had been sent to NM Norway and it has been acknowledged.

c. IFABC Constitution – The Secretaries reported that on 24 February 2014 the Registry of Societies (ROS), Singapore had advised the approval of the amendments made at the GA in Madrid with a minor revision. They would require an elected Executive Board member to be appointed as the Hon. Secretary. The paid secretarial firm would not be able to undertake any duties of the Hon Secretary while dealing with the ROS. The Secretaries said that the President had made two suggestions:
- Accept the ruling, change the Constitution to remove the Secretary ass a member and have the Treasurer submit forms on behalf of the Board
- Change the Constitution to make the Secretary a separate elected position
Mr George Bohlander said that he had a 3rd option, with IFABC being a small organization, perhaps it’s registered address could be moved to another country where there will be no restrictions like the Singapore ROS. Treasurer reported that with much difficulty the IFABC was registered as a legal entity in Singapore. He added that due to the registration, IFABC has been able to open and operate a bank account in the name of IFABC. Chairman said that good governance dictated that IFABC should have a bank account in the name of IFABC. He added that it was important to stay as a legally registered organization. He said that he was not convinced to make a change in the location of IFABC. He continued and said that the ROS was only seeking a technical change. Treasurer said that there was a possibility of electing a Member as the Hon Secretary. Treasurer said that perhaps a thought should also be given to include the position of a Vice-President who could deputise in the event of the absence of the President. Chairman was of the opinion that it was not the right time to look at the position of a Vice-President. Discussion ensued and it was agreed to keep the positions separate – President, Secretary and Treasurer. The secretaries said that the ROS had made a technical error in the number of members on the Executive Board. They said that they would like to meet the ROS to discuss the matter so that there may not be a need to amend the Constitution in this aspect.
2.1.2 Knowledge Sharing/Business Development

a. Central knowledge store –Ms Iwona Szczesna said that the Secretaries had submitted the data for magazines to her. 15 Members had not submitted the data, although a reminder had been sent. Some countries were not willing to share the data due to being judged by the size of the country. Mr Paul Dovas said that he was unable to release the data as some concerns had been raised by his members. He said that he will bring up the matter with his members again. Ms Iwona Szczesna said that she will try again to collect data from the rest. Chairman said that the collected data should be put up by 1 April 2014. He would then engage with PR to make an announcement on the release of newspaper and magazine circulation data.

b. Improve internal communications – Website – Mr Paul Dovas reported that the Secretaries had renewed the domain name for another year. Mr George Bohlander asked whether there was any record of the traffic to the website. Mr Dovas said that he did not have it on hand but would present it at the next meeting.

Chairman proposed a review of the website before the GA on the value of the information available and whether there was a need to do it differently. A survey with the Members could be done after some information had been collected on the website.

Newsletter – Chairman said that although the newsletter was part of the communication process, he wanted to find out if it was adding any value to the Members. If it was not, was there another way of communicating information to Members, he asked.

2.1.3 Digital Standards and Measurement

a. ‘Hybrid’ Online Audience Measurement – Mr George Bohlander said that the Committee would be meeting next week. Meanwhile they were collecting alternative ideas and would report to the Executive Board.

b. Digital Editions and Publications – Mr George Bohlander said that 31 Members had responded to the survey on Digital media. He said that he would analyse the results and report at the next meeting.

c. Event Audits – Mr Paul Dovas said that he wanted to have a discussion with the President on the matter and would report the next steps at the next meeting. Chairman said that he was available for a tele-conference this week.

2.1.4 Governance and Finance

a. Finance
- 2014 Membership dues - Treasurer reported that 21 Full Members and 1 Affiliate Member had paid their annual membership dues for 2014. Chairman hoped that all the members would do so soon.
- Audit of IFABC accounts for the year ended 31st December 2013 -Treasurer reported that the IFABC auditors – M/s MGI N Rajan Associates, Singapore, had completed the audit of the accounts for the year ended 31 December 2013.

After discussion the following resolution was moved by the Treasurer which was
unanimously adopted by all the Executive Board Members.

RESOLVED THAT the Executive Board adopts the annual audited accounts of IFABC for the year ended 31st December 2013 which was duly audited by MGI- Rajan Associates, Singapore.

The Treasurer mentioned that the audited accounts would now be placed before the Members of IFABC at the next General Assembly for their adoption.

- Appointment of auditors for the year 2014 and 2015 – Treasurer proposed that the Executive Board may consider re-appointing MGI-N Rajan Associates, Singapore as auditors of IFABC for the calendar year 2014 and 2015 at mutually agreed audit fees. Chairman said that the Board should consider changing the auditors after certain time in accordance with principles of corporate governance. As these auditors were recently appointed it was agreed to continue with them for the years 2014 and 2015. It was agreed to table the matter at the General Assembly.
The following resolution was moved by the Treasurer which was unanimously adopted by the Executive Board Members.

- Proposed structure for membership fees for the years 2015 and 2016 – Treasurer tabled the proposal to marginally increase the annual fees for 2015 and 2016. Chairman suggested keeping the 2015 as current and increasing the dues in 2016, understanding the financial pressures of members. Mr Manuel Sala concurred. Mr George Bohlander wanted to know the percentage contribution of each level to total membership revenue. Treasurer said that he would email it to the Board members. It was also agreed to request Members to provide their total income from media audit services for the year 2013.

- Budget estimates for the year 2014, 2015 and 2016 – Treasurer tabled the budget estimates. Ms Iwona Szczesna referred to the subsidy amount for the GA. She felt that the level of subsidy should depend on the venue city of the GA – some venues were more expensive than others. Chairman said that the basic reason for the subsidy was to enable the host to keep the registration fee low for delegates. For the coming GA it was around € 450; without the subsidy it could be above € 1,000. Chairman requested EB members to review the budget and come back with their suggestions and observations.

Balance in the HSBC Bank, Singapore - €85,656-99.

3. IFABC GENERAL ASSEMBLY 2014 – Mr Pedro Silva reported that a tele-conference meeting of the committee had taken last week. He said that the committee had agreed to a communication going out to the Members advising them of the expenditure – delegate fee, hotel costs; accompanying persons fee etc – so that Members could have a budget for their Boards. The Committee was starting to plan a draft Agenda for the GA. Chairman requested the Executive Board members to recommend speakers/topics for the GA.

Mr Paul Dovas said that 16 members had completed the questionnaire on the GA and he would be presenting the results to the Committee.

Mr Pedro Silva said that details will also be posted on the website.
Chairman said that the secretaries would be tabling a number of matters on the constitution for Members’ approval.

4. NEXT MEETING – the next meeting of the Executive Board will be held 10 am, London time, Tuesday – 22 April 2014.

5. ANY OTHER BUSINESS

5.1 ICOM – Mr Pedro Silva requested those attending the ICOM conference to review the speakers and topics at the event and consider them for the GA. He hoped that new ideas, trends etc would emerge at the ICOM meeting

 

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