Minutes of the Meetings of the Audit Committee of the Internet Society

Audit Committee Meeting Minutes – 6 June 2022

The Audit Committee of the Internet Society (ISOC) held a meeting on Monday, 6 June 2022, at 19:00 UTC. In attendance were Richard Barnes as Chair of the Audit Committee and Luis Martinez as members of the Audit Committee.

Also in attendance were ISOC staff Sae Park, Chief Financial Officer, Ilona Levine, General Counsel, and Sibyl Ketcham, Senior Manager, Accounting. Divya Gadre, Audit Engagement Partner, and Allison Cheng, Audit Engagement Senior Manager of BDO, were also in attendance for part of the meeting.

Call to Order

Richard called the meeting to order.

Review of the Annual Independent Audit

Ms. Gadre explained that ISOC’s Audited Financial Statements are the consolidated statements of the Internet Society, Public Interest Registry (PIR), Internet Society Foundation, and IETF Administration, LLC. Ms. Gadre continued her presentation with BDO’s responsibilities and the responsibilities of ISOC’s management. Ms. Gadre noted that BDO’s audit objective was to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatements. They expect to issue an unmodified opinion.

Ms. Gadre then outlined the scope of the audit and reviewed the audit findings and results, noting that cooperation from staff and management was excellent throughout the course of their work. She further stated that ISOC’s accounting policies were consistently applied.

The Committee decided not to have an executive session with BDO as the Committee convened with Ms. Gadre on Friday, 3 June 2022.

Ms. Gadre and Ms. Cheng left the meeting.

AOB

Sae reminded the Committee that the Committee approved a three-year engagement with BDO last year. Therefore, BDO will continue to provide audit and tax services for the fiscal year 2022. The Committee consented to this plan.

Adjournment

With no other business, the meeting adjourned at 19:55 UTC.