Quite a few things have been happening at L17, 1 Collins Street since my last report. As auDA appears reluctant to tell members what is going on, we try and fill the breach!
I had a pleasant conversation with Erhan Karabardak (Interim Chair) this morning, and he was able to enlighten me on a few non-confidential issues.
Staff Changes
♦ As reported back on 12th October, Di Parker (Director Corporate and Regulatory Services and Company Secretary) has involuntarily left auDA. According to this statement from auDA, her position was “restructured”. As per a company search performed earlier this morning (see below), it’s interesting to note however that she is still listed as Company Secretary at ASIC. Given electronic lodgement, I would have thought this would have been attended to as a priority. It should also be noted that the Auditor is still listed as Meagher Howard and Wright – when in fact this was changed to KPMG a while back.
Erhan Karabardak confirmed with me this morning that auDA now engages an external Company Secretary.
PDF: ASIC Company Search 30 October 2017
♦ A fellow member who keeps an eagle eye on staff movements informed me that there has been a new senior appointment. James Shady has joined auDA as “Interim Finance Professional”. Having a look at his LinkedIn profile, it appears that one of his skill sets is “forensic accounting and investigations”.
2017 Policy Review Panel (PRP)
Two meetings have been held, and the central issue being dealt with is “direct registration”. You can see the Minutes of the last meeting here.
For those that haven’t made a submission, there is still time to do so. Deadline is the 10th November. For a list of the questions, read this article.
Where Are The Minutes?
Members went to an SGM over the Board Agendas and Minutes (or lack thereof), and we were given a commitment that things would change.
I had to absolutely nag about the August Minutes, and they finally got published a couple of weeks ago. That sort of time delay is unfortunate in my opinion, and obviously reflects the fact that there were issues of disagreement amongst the Directors with the wording.
Now we are waiting for the September 26th Minutes. Speaking with Erhan this morning, he assures me these will be published soon.
Constitutional Advisory Committee
Erhan tells me that the Chair and members have been selected for this Committee. I understand that there are some very good people on it, and an announcement will be forthcoming very soon.
The Constitution badly needs to be reformed, and I do give credit to Erhan for following through on this initiative. He first flagged this with me last year.
ICANN
Erhan confirms that auDA has four representatives at the current ICANN60 meeting in Abu Dhabi. They are:
Cameron Boardman, Simon Johnson, Dr Liz Williams, and Bruce Tonkin.
I don’t know much about Liz Williams current role with auDA other than she is listed as being on the Registry Transformation Project “Tender Process Committee”. Many years ago she used to be an auDA Director.
Financials
At great expense to management, I have downloaded the Financial Statements and Reports for the year ended 30th June 2017. These were lodged with ASIC a few days ago (Friday 27th October).
I’d be interested in your comments.
PDF: ASIC Financial Reports auDA 2017
Ned O’Meara – 30th October 2017
Disclaimer
Why is it that Ned needs to give us these updates? So much for transparency.
The financial statement is interesting, thanks for posting Ned!
I’m surprised they a considerably amount of money (over 9 million) in investments, especially since they’re a non-profit company.
As AUDA says “Just because we are non profit doesn’t mean we can’t make a profit”, and then it goes from there, attempting to make money and stockpile cash hand over fist at the expense of Australian business owners.
Agreed. But let us not forget that whilst the registry and auDA make good coin, the poor old registrars battle to make a buck. auDA should be investing some of the pot of gold into actually promoting .au.
Link to a 2012 meeting on investments. https://www.auda.org.au/about-auda/our-org/board-meetings/2012/120820/
Same meeting B C Boardman became a member (and his company)
Page 22. 13. Related Parties, its very interesting.
@Scott – you’re the expert on this sort of thing. As members under the Corps Act , are we entitled to full breakdowns of numbers?
Anybody know what the equity securities are on page 21?
Probably threw some cash into an IPO….
Sports bets? I think they got advance odds of 66-1 on “Boom Time” in this year’s Melbourne Cup. 😀
LOL….one day I hope to bet on horse named ketchup.
“Turn to Custard” could be a good bet. 😉
…”whipped with cream” has exploded down the straight.
Wonder how much was expended settling staff terminations?
Jeff
@Jeff – now that’s an excellent question to ask at the AGM! But as a betting man, I reckon we will get the stock standard answer that “privacy issues” preclude them from telling members. 😉
The settlements will be confidential…