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Audit Committee Meeting Agenda

Friday, July 21, 2017

Wikimedia Foundation Office/San Francisco

9:30 - 11:00 PDT/ 16:30 - 18:00 GMT

Attended in person:  Jaime Villagomez, Tony Le, James Baldwin and Katie Francis

Attended in person from KPMG:  Jeremy Peters and Seth Philip

Attended Remotely:  Katherine Maher, Kelly Battles, María Sefidari, Nataliia Tymkiv, Julian Singh, and Michael Snow

Contents

Agenda:Edit

  • Renewal term for the volunteers Michael and Julian
  • Scheduling for the next Audit Committee Meeting

Meeting began at:  9:33 AM PST

Approval of MinutesEdit

Kelly recommend approval of the minutes from the June 2, 2017 meeting, María seconded; and the minutes were unanimously approved.

KPMG Pre-Audit Report PresentationEdit

Jeremy Peters and Seth Philip presented KPMG’s Audit Plan.  There was a discussion about any risks that may need to be considered.  KPMG has not identified any risks but will bring any issues they may discover to the immediate attention of the Audit Committee.  To date, no unusual transactions have been found in the Foundation’s records.  There is a general business records test this year (not specific to the Foundation) that KPMG will be applying - is management in a position to manipulate records?

Fees for the audit are locked in for 2017 and there would only be changes if difficulties arise.

Wikimedia France Site VisitEdit

James Baldwin, Finance Department, Senior Analyst, will be making a site visit to Wikimedia France.

Objectives for visit include: a financial review, a review of procedures, funding sources, historical change in assets, and endowment activities.  James will prepare a report on his return.

Renewal of Terms forEdit

Both Michael Snow and Julian Singh have agreed to continue serving as Advisors on the Audit Committee for one more term.  Kelly thanked both Michael and Julian for their support of and contributions to the Audit Committee.

Action ItemsEdit

Jaime - Put into writing the extension of Julian and Michael’s participation in the Audit Committee as Advisors.

Tony - Poll will go out today to set the date for the September Audit Committee Meeting to review the Audit findings.

Meeting ended at 10:04 am PST

Respectfully submitted Katie Francis with consolidation by Amy Vossbrinck