Audit Report for 2013 R10 Financial Activities 

Takatoshi MinamiChair, 2014 R10 Audit Committee

1 March, Kuching, Malaysia

R10 Finance Auditing

Audit committee was formed to audit the 2013 R10 finance:– Chair: Takatoshi Minami

– Members: Laurence Gan Lim (Republic of Philippines Section Chair), Toshio Fukuda (2013 R10 Director), Takao Onoye (2013 R10 Treasurer), Lawrence Wong (2012 R10 Director), Ling Chuen Michael Ong (2012 R10 Treasurer),, Ramakrishna Kappagantu (2013 R10 Director Elect), Hidenori Nakazato (2013 R10 Secretary),

The following summary files were went through by the committee:– 2013 R10 Budget Report

– 2013 R10 Daily Report

– 2013 R10 L50

Audit Process

Draft of the summary files were ready on 17 February 2014.

Review, discussions and amendments were made by emails from 17 February through 28 February.

Audit committee meeting was held on 28 February at Hilton Kuching, from 16:00 to 19: ０ 0.

Audit Committee Meeting

Photo

Audit Committee Meeting

The committee: – Confirmed all the income and expenses

are clearly and accurately reflected in the three summary files.

– Motion: 2014 Region 10 Meeting accepts the audited account as the true copy for the 2013 financial activities.

The committee thanks Takao, 2013 R10 Treasurer, for his excellent work done.

Findings(1): Airfare

Airfares account for a substantial portion of the total R10 expenses: – Example: 2013 R10 Meet

Total expenses: USD 133,790.17 Total airfares: USD 67,623.08 (50.6%)

It is essential to minimize the airfare by securing LOWEST discount economy class by early travel arrangement.

Recommendation: R10 shall continue to reimburse only LOWEST discount economy class equivalent airfare.

Findings(2): Analysis of Expenditure

In the auditing, it was recognized that more detailed analysis of expenditures, such as:

– How much R10 support each section received in total.

would be useful.

Recommendation: R10 shall enhance the method of recording each expenditure so that more detailed analysis is made possible.