Minutes | Audit Committee (AC) Meeting | 3 November 2010

AC Attendees: Harald Alvestrand, Steve Crocker, Dennis Jennings and Rita Rodin Johnston – Chair

Other Board member attendees: Peter Dengate Thrush and Rajasekhar Ramaraj

Staff members present: Akram Atallah – Chief Operating Officer; John Jeffrey – General Counsel and Secretary; Kevin Wilson – Chief Financial Officer; Juan Ojeda, Diane Schroeder and Amy Stathos

Guests: External Auditors and Internal Auditors

---

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

1. Finance System Replacement (FSR): Staff reported on the process used to identify a new finance system that would help enhance functionality, product support, internal controls, is scalable and is supportive of internationalization goals. Staff explained that significant research went into selecting the appropriate system and that procurement guidelines were followed as required.

   • Action: Staff to discuss more details of the FSR project with the Chair of the Finance Committee.

2. Minutes: Approved the minutes of the 18 October 2010 meeting.

3. External Auditor’s Report: The External Auditor’s made their required communications to the Committee on the FY10 audited financials.

4. Internal Auditor’s Report: The company performing ICANN’s internal audit function provided a report to the Committee.