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Minutes of a teleconference meeting of the Executive Board held 10am London time, 12 April 2016.

                             INTERNATIONAL FEDERATION OF AUDIT BUREAUX OF CERTIFICATION

Minutes of a teleconference meeting of the Executive Board held 10am London time, 12 April 2016.

Present :
Mr Pedro Silva – Chairman – in the Chair
Mr Hormuzd Masani – Treasurer
Ms Heather Craven
Ms Iwona Szczesna
Mr Manuel Sala
Ms Arina Ureche
Mr Richard Foan

Apologies :
Mr Magnus Paulsson
Mr Marco Bernasconi

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

1. MINUTES: The minutes of the meeting of the Executive Board held 8 March 2016 having been circulated, were taken as read and confirmed.

2. MATTERS ARISING:

2.1 IFABC Workplan 2014-2016

2.1.1 Role of IFABC/Industry Advocacy

a. Promote the growth of bureaux in new geographies – Mr Manuel Sala said that he spoke to Ms Alexandra Ferrari/Chile and he could invite her to Ascona if their membership has been submitted. The Secretaries said that they have not received any documents from her.

2.1.2 Knowledge Sharing/Business Development

a. Central knowledge store – Ms Iwona Szczesna said that SilverCube had completed the contracted scope of work to add an additional feature to purge data. From today the system will be ready for testing by ABC UK (applicant of the amendment). Then the modification will be transferred from the test server to the target and made available to all members.

b. Improve internal communications – Website – Ms Heather Craven said that there was a minor change made to the GA news on the website.

2.1.3 Digital Standards and Measurement

a. Digital Standards and Measurement Committee/Digital Publications Standards Committee – Chairman and Mr Richard Foan said that there was nothing new to report. Chairman said that he will be attending the ICOM meeting which will be held next week. Mr Richard Foan said that Mr Steff Peters from Belgium and he would be attending the same event.
There will be a session where IFABC and MRC co-chair a panel where current issues
would be discussed. Many bodies like IABs/CASP France/JICs etc who were interested
in stating their ground in this area would be attending. Nielsen and comScore will be
present. It will be a good opportunity to present IFABC. Chairman said that he would
report the outcome at the next meeting.

2.1.4 IFABC General Assembly 2016

a. Speakers/Agenda - Ms Heather Craven said that Australia was conducting a two part survey to ask leading advertisers, marketers and heads of media agencies the value of verification in the market place and what having verified data means and also asked them about the brand ABC. She asked if IFABC would be interested in the results. Ms Josanne who will be attending the GA will be able to present the results. Additional research on how audited data is used in econometrics modelling in agencies specifically to address why the media industry should stay verified. (morning of Thursday)
Mr Chris Llewellyn will be attending.
Mr Stuart Wilkinson from comScore would be happy to come and bring with him Mr Larry Goldstein from US. Mr Goldstein’s responsibility is to manage the field across all their products, and share their experiences etc. It was agreed. Treasurer said that some sort of budget should be set as IFABC have only €5,000 for the GA expenses. Mr Foan said that if the list of attendees were influential, comScore would perhaps sponsor a sum.
Facebook – Mr Alex North who has a role across Europe and Middle East is willing to come. He is also expecting some of the Board members to be there. They were looking for commercial people attending the event. They need a compelling reason to attend.
The costs of Mr Richard Foan would have to be covered as he would be managing the speakers and the Agenda.

b. Registrations – Chairman said that 14 delegates from 12 countries have registered for the GA to-date. Ms Heather Craven said that the challenge for the AP was the cost for a delegate to get to Ascona. Chairman felt that it was a good start. Regional Chairmen were requested to liaise with their Members to try and attend.

c. Bureau Activity Report – Secretaries reported that 14 bureaux had submitted their reports to-date. The Secretaries were requested to send a reminder. It was noted that it was an obligation for Bureaux to submit the reports. Ms Iwona felt that the President should sent out an email to all members about their obligation and that the reports would be used by the consultant in a research in knowing what is happening in other bureau so that those who are not coming would get to know what is happening in other bureaux. Chairman agreed to do so.

d. Future of IFABC – Ms Iwona said that it was a tough subject. She said that she could not gauge the future direction without the participation from the members. She asked about the goal as a Federation. It is important to have the feedback from the bureau report and how to help our members. The lack of the information is troubling. Mr Richard Foan said that there was a need for a re-focus on the direction forwarto inform Members of the activities that d. Ms Iwona Szczesna said that it was important to inform Members of the activities/projects undertaken and whether it was useful for Members and perhaps what IFABC should be doing for the Members, A suggestion was made that perhaps the Chairman could speak to Ms Carolyn Morgan to find out what revelations she had discovered in the Bureaux reports. Mr Manuel Sala said that it was important to share new initiatives undertaken by Members. Members were at different levels and different strengths. The Members must see IFABC adding value to the local bureaux. Some Members may see IFABC as not relevant to the local bureau. Mr Foan said that Members should be asked to declare the one thing that they wanted IFABC should be doing. If bureaux were not coming to the GA, were they saying that they did not see any value from IFABC? Mr Manuel Sala said that it was important not only to know what was successful but also what was not successful. In his view, IFABC should not only share the projects that were successful what also what initiatives that have been undertaken or convincing the market of the need for ABC services. Chairman said that he would try and seek some answers.

2.1.5 Governance and Finance

a. Finance – Treasurer reported the following:
Annual Subscription 2016
The following Members have not paid their subscriptions – BPA Worldwide, Chinese
Taipei, Germany, Italy CSST, Korea, Mexico, Peoples Republic of China and Sweden.
Reminders have been sent. He requested the regional chairmen to assist in the matter.

b. Balance in IFABC Bank Account in HSBC Singapore € 80,071-37

c. Annual audited statement of accounts for the period 1 January 2015 to 31 December 2015 from the auditors MGI-N Rajan Associates, Singapore, was tabled at the meeting.

RESOLVED THAT the Annual Audited Statement of Accounts of IFABC for the year 2015 duly audited by MGI-N Rajan Associates, Chartered Accountants, Singapore, be and are hereby adopted by the Executive Board members and forwarded to the General Assembly of Members of IFABC for their consideration and adoption.

The accounts would be signed by the President and Treasurer on behalf of the Executive Board before being sent to the auditors MGI-N Rajan Associates, Singapore, for their stamp and signature.

The signed audited accounts for 2015 would then be circulated to the IFABC Members for approval and adoption at the General Assembly in June 2016.
The tax returns have been filed based on the audited accounts of 2015.

d. Appointment of Statutory Auditors for the years 2016 and 2017
The Executive considered and approved a resolution which will be placed before the IFABC General Assembly to reappoint the auditors MGI-N Rajan Associates, Singapore for the years 2016 and 2017.

RESOLVED THAT MGI-N Rajan Associates, Singapore, be and are hereby re-appointed as Statutory Auditors of IFABC for the calendar year 2016 and 2017 at audit fees to be mutually decided.

e. Budget estimates 2016, 2017 and 2018 - The budget estimates for the year 2016, 2017 and 2018 were tabled and accepted by the Executive Board. These will be tabled at the IFABC GA for approval by the Members. Treasurer reported the need for caution and ways to supplement the revenue while economizing and cutting the budgets to manage the lean years related to the GA years. Chairman said that these matters must be discussed at the GA.

f. Annual Membership subscription for the years 2017 and 2018 – The Executive Board had agreed not to propose an increase in subscriptions. However, as agreed at a previous meeting the subscription level 2 would be split into two levels. IFABC Income will go down due to some resignations and some bureaux having reported less income.

g. Bill for payment – Tabled Bill 0055 for €3,830-52 from Macomm Management Services Sdn Bhd being professional fees for secretarial services for the period January 2016 to March 2016. It was approved for payment.

3. NEXT MEETING – It was agreed to hold two meetings in May – 4th and 24th of May. It
was noted that it would be very important for Mr Marco Bernasconi to attend these two
meetings.

4. ANY OTHER BUSINESS
4.1 The meeting ended at 12noon.

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