-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 On 2004-12-09, at 16.58, Bernard Aboba wrote: > Section 5.1 > > "For bookkeeping purposes, funds managed by IASA should be accounted > for > in a separate set of accounts which can be rolled-up periodically to > the > equivalent of a balance sheet and a profit and loss statement for IASA > alone after taking into account the effect of common items paid for or > received by ISOC as a whole." > > I think we want to specify what financial statements are produced in > more > detail, and how an audit may be triggered. > > Suggest this be changed to: > > "For accounting purposes, funds managed by IASA should be accounted > for in > a separate set of accounts, in order to allow the general of separate > financial statements for IASA, after taking into account the > allocation of > common items paid for or received by ISOC. The allocation of these > common > items shall be agreed upon between the ISOC and the IAOC as part of the > budget process. > > Financial statements to be produced for IASA include (but are not > limited > to) an Income (Profit/Loss) Statement, Balance Sheet and Statement of > Cash > Flows, in accordance with Generally Accepted Accounting Pinciples > (GAAP). > Should the IAOC not be satisified with these financial statements, the > IAOC shall have the right to request that the ISOC conduct an audit." I kind of like this proposal, but this second paragraph is something that I think is up to IAOC to agree with ISOC on. Also, if you will need an audit, I don't expect you/us to want ISOC to conduct it. - - kurtis - -----BEGIN PGP SIGNATURE----- Version: PGP 8.1 iQA/AwUBQbnQVqarNKXTPFCVEQLlEwCfUpf4eY8UbKp+ViKH8E3AjzwFCboAoN2h cImKVq0/Fes9tE6EgKMvC9jB =V9Kr -----END PGP SIGNATURE----- _______________________________________________ Ietf@xxxxxxxx https://www1.ietf.org/mailman/listinfo/ietf