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Minutes of a teleconference meeting of the Executive Board held 10am, London time, 19 January 2016.

                                    INTERNATIONAL FEDERATION OF AUDIT BUREAUX OF CERTIFICATION

Minutes of a teleconference meeting of the Executive Board held 10am, London time, 19 January 2016.

Present
Mr Pedro Silva – President – in the Chair
Mr Hormuzd Masani – Treasurer
Mr Marco Bernasconi
Ms Iwona Szczesna
Ms Arina Ureche

Apologies
Mr Manuel Sala
Ms Heather Craven
Mr Magnus Paulsson

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

1. COUNCIL:

Chairman said that a vacancy was created on the Executive Board with the resignation of Mr Jerry Wright of ABC UK. He said that the Constitution provided that a casual vacancy could be filled by the Executive Board. Chairman said that three options were available:
i. As the GA was only a few months away, there was no hurry to fill it
ii. Fill the vacancy by the person who stood for elections at the previous GA and was not elected
iii. Allow ABC UK to nominate a representative to the Council
Chairman said that he had received an email dated 18 January 2016 from Mr Simon Redlich, the Interim CEO of ABC UK, who had pointed out that he was still getting familiar with his new responsibilities and was proposing that Mr Richard Foan cover the IFABC till the next GA.
Members were of the opinion that Mr Richard Foan should be co-opted to fill the vacancy till the next GA as he had assisted the Executive Board during the previous GAs and will be doing the same again in the forthcoming GA. All Members were in favour (including those who had sent their apologies).

2. MINUTES:

It was noted that although there was no quorum for the Executive Board meeting held 8 December 2015, the Executive Board Members who were absent had ratified the minutes. Therefore the minutes of the Executive Board held 9 December 2015 having been circulated were taken as read and confirmed.

3. MATTERS ARISING:

3.1 IFABC Workplan 2014 – 2016

3.1.1 Role of IFABC / Industry Advocacy
a. Promote the growth of bureau in new geographies – in the absence of Mr Manuel Sala there was no report. The Secretaries reported that there was no reply from Colombia although a reminder was sent.

APABC – a report submitted by Ms Heather Craven, who was unable to attend the EB meeting today, had pointed out that a representative from Vietnam, Mr Tran Hoang from a company called Vietnam Marcom, had expressed interest in attending the APABC Conference in Taipei in November 2015. However, due to visa issues, he was unable to attend. In response to queries about forming a local audit bureau, Mr Hoang had suggested that he be given ‘Partner Status” first and then he will look for suitable organizations who wanted to be associated with IFABC. Ms Heather Craven’s was of the opinion to decline his proposal. This was accepted by the Executive Board.

3.1.2 Knowledge Sharing/Business Development
a. Central Knowledge Store Ms Iwona Szczesna said that the Executive Board had at its November meeting agreed to some additional work to be done to the system. She said that two out of the three had been done at no extra payment. On the matter of ‘purging data’ which was requested by ABC UK and Switzerland, the developer was waiting for ABC UK to respond to their queries. She said that the ‘purging data’ mechanism could be developed in 30 man hours and this work would have to be paid. Chairman sought for next steps and felt that it would be good to have it ready for presentation at the forthcoming General Assembly (GA). Ms Szczesna said that the purging of data matter needed to be resolved. Once that was completed, she would get Members to complete the data and it would be presented at the GA.

b. Website – It was noted that Ms Heather Craven had updated the website with a panel about the General Assembly and she could add on to it as the date moved closer to the GA. She had added an article and posted documents from the APABC Conference held in Taipei in November 2015 and had shared the posting with IFABC Members.

3.1.3 Digital Standards and Measurement – Chairman said that he had nothing to
Report.

Mr Richard Foan entered the meeting. Chairman welcomed him to the Executive Board.

3.1.4 IFABC General Assembly 2016 Ascona Switzerland

a. Chairman said that it was important to look at the Agenda and firm up the items soon. Ms Iwona Szczesna said that perhaps the EB should refer to the results of the GA survey that was done after the last GA. It was noted that only 8 people had responded. She said that perhaps the EB should look at the projects that were done at the last GA – problems faced by Bureaux and how to overcome them. It was noted that it was important to have the advertiser/agency perspective to understand how things were evolving in the media space.
Mr Marco Bernasconi said that information on the GA should be send to members soon. Mr Bernasconi sought clarification on the subsidy of €15,000 that was provided by IFABC to the GA host bureau. Treasurer said that the subsidy was to cover some speakers cost and some expenses at the GA. It was noted that the delegate registration fee of €550 and the accompany person fee of €380 did not appear on the registration form on the GA website. A suggestion was made to look at ways to reduce the registration fee. Mr Richard Foan said that some of the speakers at the recent APABC conference had sponsored some items and had paid their own way. He said that he could approach some of them. He said that he would send a list to the Executive Board members to see if they had any objections to the companies listed. The sponsorship could go to cover some of the expenses at the GA. He said that the speakers at the APABC conference had not ‘sold’ their companies at the meeting. This was vouched for by the Treasurer. Discussion ensued and it was agreed that a committee of the Chairman, Mr Marco Bernasconi and Mr Richard Foan will take a decision on this matter.

Chairman said that Mr Jerry Wright had written to Mr Chris Llewellyn from FIPP who was willing to speak at the GA provided that his transport and accommodation costs were covered. Chairman felt that Mr Llewellyn, representing FIPP will be able to provide an interesting perspective on the challenges the magazine publishers were facing in doing their business. He said that he could speak on Wednesday – where the GA will hear perspectives from an Advertiser; Agency and a Publisher. He proposed that Mr Llewellyn’s airfare and one night accommodation should be covered. This was generally agreed.
Mr Marco Bernasconi said that it was important to firm up the Agenda so that it could attract delegates to the GA. Chairman said that as the EB confirmed speakers members could be informed.

Chairman said that the morning and early afternoon of Thursday of the GA was still open. He said that at the Rio GA, specific projects/digital/experiences were shared which translated into productivity and cost saving measures for the Members. He was not sure how successful it was with the Members. Chairman said that Members could be invited to share their experiences about new projects etc. Some Members had voiced out that it should not all be about digital. Perhaps non-digital subjects such as exhibitions/events/OOH could be covered. Half of the time could be devoted to subjects on digital. Ms Iwona Szczesna said that the plans must be made concrete in due course after looking at the Bureaux reports.

Ms Iwona Szczesna said from her point of view the “Change Census Survey’ done at the past two GA’s was very important and useful. It was noted that it was an interesting and helpful tool on what was happening and the future role for Bureaux. It was noted that there may not be time to do it. Mr Richard Foan said that perhaps the consultant, Ms Carolyn Morgan, could pull out the burning issues from the Members activity reports, shorten the survey and obtain external views and present it at the GA. A question of the budget was also raised. Chairman said that he would speak with the consultant. He would together with Mr Richard Foan, would run the items of the Bureau Activity report to see if any additional items should be included. It was agreed to send out the request for the report to Members mid-February.

3.1.5 Governance and Finance

a. Finance – Treasurer tabled the Financial Report for the month:
i) Payment – The following were approved for payment:
- MGI N Rajan Associates – S$ 1,150-25 being the audit fee and out of pocket expenses for the audit of the IFABC accounts for 2014
- R R Consultants Pte Ltd – S$ 520-00 being fees and out of pocket expenses for taxation consultation matters for 2014

- Macomm Management Services Sdn Bhd - € 3,793-42 being the professional fees in respect of Secretarial services and out of pocket expenses for the period October 2015 to December 2015

ii) Norsk Mediekontroll Norway – Termination of Membership – a email dated 18 December 2015 from Mr Lasse Birkeland advising about their decision to terminate their membership with the IFABC with effect from 31 December 2015. This was accepted.

iii) Change of name of IFABC to be incorporated in the IFABC Bank Account in HSBC Singapore – The necessary documents have been submitted and a response was awaited from HSBC.
Treasurer tabled a Resolution to delete Mr Jerry Wright’s name as a signatory to the IFABC Account in the HSBC Bank in Singapore.
“RESOLVED THAT the name of Mr Jerry Wright as one of the Joint Signatories to the IFABC bank account with HSBC Singapore, A/c. No. 260-733720-178 be deleted with effect from.1st January 2016.

The other existing joint authorized signatories namely, Mr Hormuzd B Masani and Mr Jacob Matthews would continue to operate the IFABC HSBC Singapore bank account till further notice.”

The above resolution was unanimously carried by all EB Members.

iv) Unaudited Financial Statement of Account for the year 2015 – The accounts have been forwarded to the Auditors in Singapore to commence the audit. It was noted that there was a surplus of € 11,934 for the year compared to a deficit of € 15,432 for 2014, Treasurer reported that the IFABC always incurred a deficit in the GA years.

v) Budget estimate and Unaudited Financial Statement of Account for the year 2015 – It was noted that in the budget for 2015 it was estimated that there would be a surplus of € 700-00. For the actuals, there were savings on some front especially where the item Branding, Marketing & PR was concerned.

vi) Budget estimate for the year 2016 – A deficit of €19, 240 was estimated for 2016. This was mainly due to the GA subsidy/speakers expenses and secretaries travel/accommodation. Ms Iwona Szczesna said that a comparison of the 2014 GA expenses and the projected expenses for GA 2016. Treasurer agreed to provide.

vii) Proposed Membership fees for 2016 – Treasurer said that this was based on the Member’s Annual Income from Media Audit Services and the subscription was then levied according to the Tiers agreed at the previous GA. It was estimated to collect a revenue of € 43,850 for 2016.

viii) Balance in the IFABC Account in the HSBC Bank in Singapore - € 56,674-55

4. NEXT MEETING – the next meeting of the Executive Board will be held 10am, Tuesday – 9 February 2016.

5. ANY OTHER BUSINESS

5.1 The meeting was adjourned at 12.30 pm.

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