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Dear Noah,<br>
<br>
Please see my comments inset:<br>
<br>
<br>
<div class="moz-cite-prefix">On 22/06/2017 20:28, Noah wrote:<br>
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<blockquote type="cite"
cite="mid:CAEqgTWZOpNnCJ-VMKskt0_D1a5S2GAcLB2TeABa2zfFobd_Gjw@mail.gmail.com">
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<div class="gmail_extra"><br>
<div class="gmail_quote">On 22 Jun 2017 9:49 p.m., "Andrew
Alston" <<a
href="mailto:Andrew.Alston@liquidtelecom.com"
target="_blank" moz-do-not-send="true">Andrew.Alston@liquidtelecom.<wbr>com</a>>
wrote:<br type="attribution">
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<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">Noah
–</span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">An
annual report – by law – has to contain the
financials – audits cannot even BEGIN until
after the close of the financial year – and
audits take time – and yes – I am also not all
that pleased that the “friendly” audit report is
not out yet – but asking for a report in Q1 that
is required to contain financials is entirely
unrealistic.</span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">Here
is the thing – while the board of directors has
the power to approve the financials, and then
bring them to the floor for adoption by the
members – until such time as they are approved
and I would say adopted – they cannot
realistically be included in the “friendly”
annual report – because the financials actually
*<b>ARE</b>* the annual report – the friendly
version is what is added to that.</span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">So
– either an annual report goes out with
financials the community has not adopted – and
by the way – annual reports are meant to be
filed and once released are very difficult to
withdraw and change – or – the community still
gets to adopt the financials before they get put
into formal publication – one way – you can have
an early annual report – the other way – you can
adopt the financials – but it can’t be both –
that’s not the way it works.</span></p>
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<div dir="auto"><br>
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<div dir="auto">Andrew,</div>
<div dir="auto"><br>
</div>
<div dir="auto">Alright then and I get what you are saying, but
the concern is still the 6 months delay its taken and is only
expected in July 2017. </div>
<div dir="auto"><br>
</div>
<div dir="auto">IMHO, the FS is a summary of the activity of
AFRINIC in a given year financially. As such, it would make
sense for the report that explains the details of the FS <span
style="font-family:sans-serif">pending adoption</span> by
community and a report on AFRINIC activities to be made
available at the same time as the FS.</div>
<div dir="auto"> </div>
<div dir="auto">AFRINIC should combine both if need be and
publish them as earlier as April and before AGMM.</div>
</div>
</blockquote>
<br>
It is not the fault of the Staff, I did not send the Chairman's
statement on time. There is indeed a process for making the report.
I have asked that the process be changed, to give all contributors a
heads-up earlier.<br>
<br>
We will work towards publising before the AGMM next year.<br>
<br>
<blockquote type="cite"
cite="mid:CAEqgTWZOpNnCJ-VMKskt0_D1a5S2GAcLB2TeABa2zfFobd_Gjw@mail.gmail.com">
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<div class="gmail_extra">
<div class="gmail_quote">
<blockquote class="m_5524545829945787320quote"
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<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">By
the way – I have a serious and pressing concern
that I will be raising on the members list about
the adoption of the financials – because I only
realized this AFTER the Nairobi meeting – under
section 7.6.(i) the community has the power to
adopt the financials – and unless I am mistaken
– this was not done – so I would like to ask the
board of directors when this community will get
to adopt said financials.</span></p>
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<div dir="auto"><br>
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<div dir="auto">As far as I remember, you were seated with
fellow board members during the discussion on the FS and if
memory serves the Chair called for the adoption of the FS
after the community discussing it and no one in the room
objected. I could also be wrong unless I check the video
archives on youtube :-).</div>
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</blockquote>
<br>
I did not formally call for a vote to approve the report, but I
indeed asked for anyone who still had comments or objections on the
report. <br>
<br>
Those present will recall that we decided to discuss all the reports
together, but by the time we got to discussing the reports, we
needed to go on break and come back for the elections. Everyone
wanted us to move on. <br>
<br>
The Legal counsel has advised me that since there was no objection,
this can be fixed without an SGMM. <br>
<br>
<br>
<blockquote type="cite"
cite="mid:CAEqgTWZOpNnCJ-VMKskt0_D1a5S2GAcLB2TeABa2zfFobd_Gjw@mail.gmail.com">
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<div dir="auto"><br>
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<div class="gmail_quote">
<blockquote class="m_5524545829945787320quote"
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<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></p>
<p class="MsoNormal"><span
style="font-size:11.0pt;font-family:"Calibri",sans-serif">And
while on the subject of transparency, I would
also ask, that the board disclosure *<b>ALL</b>*
the audit reports – inclusive of the management
letters which form part of the auditor’s report
– as per section 7.6.(ii) which expressly says
that the registered and resource members have
the right to receive *<b>ANY</b>* auditor’s
report.</span></p>
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<div dir="auto">The board is reading....</div>
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<br>
Yes. reading loud and clear.<br>
<br>
The Auditor's Report is already published along with the Financial
Statements. The Board believes that the Management letter is a
confidential document.<br>
<br>
<blockquote type="cite"
cite="mid:CAEqgTWZOpNnCJ-VMKskt0_D1a5S2GAcLB2TeABa2zfFobd_Gjw@mail.gmail.com">
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<div dir="auto"><br>
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<div dir="auto">Noah</div>
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</pre>
</blockquote>
<br>
Sunday.<br>
<br>
<pre class="moz-signature" cols="72">--
--------------------------------------------------
Sunday Adekunle Folayan
Managing Director
General data Engineering Services (SKANNET)
16 Oshin Road, Kongi Bodija, Ibadan - Nigeria
Phone: +234 802 291 2202, +234 816 866 7523
Email: <a class="moz-txt-link-abbreviated" href="mailto:sfolayan@skannet.com.ng">sfolayan@skannet.com.ng</a>, <a class="moz-txt-link-abbreviated" href="mailto:sfolayan@gmail.com">sfolayan@gmail.com</a>
---------------------------------------------------</pre>
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