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Minutes | Board Audit Committee (BAC) Meeting 28 January 2019

BAC Attendees: Sarah Deutsch (Chair), Chris Disspain, Avri Doria, Akinori Maemura, and Nigel Roberts

ICANN Executives and Staff Attendees: Xavier Calvez (SVP & Chief Financial Officer), Becky Nash (VP, Finance), Franco Carrasco (Board Operations Specialist) and Amy Stathos (Deputy General Counsel)

Invited Guests: Independent auditors from BDO, LLP

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

  1. Presentation from Independent Audit Firm – The Committee received an introduction to a new audit partner from the organization's current independent auditors, BDO, LLP as well as information about BDO for the benefit of new committee members. The presentation also covered areas of quality control, independence and best practices regarding audit partner rotation. The auditors advised that it adheres to professional code of conduct for independence. As it relates to audit partner rotation, the auditors explained that while audit partner rotation (not firm rotation) is mandatory every five years for public companies, it is not mandatory for non-profits, but it is commonly considered as a best practice. The Committee discussed that the audit firm itself internally focuses on engagement transition to new partners, which is a common occurrence within public accounting, and noted that the former partner on ICANN's account will be available as a resource and can be the second partner reviewer on key areas. The presentation also made clear that it is the audit firm that is responsible for informing the committee of new, revised or upcoming legislation or guidelines for audit performance and that as new things arise the auditors must continue to educate the organization and committee members.

Published on 12 March 2019