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

A meeting of the Audit Committee of the Internet Society (ISOC) was held on Wednesday, October 17th at 13:00 UTC. In attendance was John Levine as Chair of the Audit Committee and Harish Pillay. Desiree Miloshevic sent her regrets.

Also in attendance were Sandy Spector, Chief Financial Officer, Dana Matthews, Director, Financial Reporting & Accounting and William Turco, Director, Not for Profit Tax Services at RSM US LLP.

Call to Order

The meeting was called to order.

Review of ISOC’s Annual Form 990 & ISOC Foundation’s (“the Foundation”) Initial Form 990 Information Filing Returns

Sandy summarized that one role of the Audit Committee was to review ISOC and the Foundation’s U.S. information return (Form 990) in accordance with U.S. Internal Revenue Service guidelines and according to the Charter of the Committee. Draft copies of the returns had been supplied to the Committee on October 10th.

Mr. Turco summarized the purpose of the Form 990 and then reviewed each part of the 990 for ISOC and the Foundation along with the supporting Schedules. The Committee asked questions that were answered by either Mr. Turco or by management.

Sandy explained that the process for filing the information return included noting in these minutes that the Audit Committee had performed a detailed review of the returns, whereupon the full returns would be supplied to each of the members of ISOC’s Board of Trustees. The returns will then be signed by both Sandy and RSM, and filed with the Internal Revenue Service.

The Committee then confirmed that it had reviewed and accepted ISOC’s and ISOC Foundation’s 2017 U.S. information returns (Form 990). Sandy confirmed that the reports would also be sent to all Trustees prior to its filing.

The representative from RSM left the meeting.

Audit and Tax Service

Sandy reminded the Committee that due to a change in audit partner last year, management had recommended and the Committee had approved a 3-year engagement

(2017-2019) for audit and tax services. She also stated that management is recommending a continuation of the remaining 2 years of the engagement. The Committee approved the continuation of the remaining 2 years of the engagement with RSM US LLP.

AOB

Sandy updated the Committee on the status of the undertakings of the Compliance Committee which is comprised of ISOC staff. John noted that there were no new Conflict of Interest updates since the last meeting.

The meeting was adjourned at 14:00 UTC