Audit Committee (AC) Meeting Minutes 20 June 2014

AC Attendees: Bill Graham, Olga Madruga-Forti, Erika Mann – Chair, Gonzalo Navarro, and Ray Plzak

Other Board Attendees: George Sadowsky

ICANN Executives and Staff Attendees: Michelle Bright (Board Support Manager), Xavier Calvez (Chief Financial Officer), John Jeffrey (General Counsel and Secretary), Jacks Khawaja (Enterprise Risk Management Director), Wendy Profit (Board Support Specialist), and Amy Stathos (Deputy General Counsel).

Invited Guests: Rinalia Abdul Rahim, and representatives of the new independent audit firm, BDO.

The following is a summary of discussion, actions taken and actions identified:

  1. Minutes – The AC approved the minutes from 13 July 2013 and 30 April 2014.

  2. Presentation from new Independent Audit Firm – The new Audit Firm partner and manager presented the plan for the upcoming FY14 audit. The team members described their experience and the experience and expertise of organization, and provided an overview of the Firm, including its commitment to working with non-profits, its decentralized structure and that fact that it has offices in countries throughout the world, including everywhere ICANN has an office. The audit firm then explained various aspects of the upcoming audit, including: (i) management's responsibilities; (ii) engagement objectives; (iii) overall audit strategy and scope, including the primary areas of focus; (iv) the overall audit timeline; (v) the required communications regarding independence; and (vi) significant accounting and reporting matters.