| | | Greetings Members!
On February 17, IAGR sent notice to the full membership regarding a special ballot issue to be presented for electronic voting this spring. As a reminder of our bylaws requirement, the appointment of the accountant for the present financial year is included as a ballot item at the Annual Business Meeting.
At the Oslo September 2013 annual meeting, the membership approved the recommendation to retain McGladrey LLP for the 2013 annual review and tax preparation services as this firm had provided such services since our creation as an independent Association in 2011.
With McGladrey's notice in November 2013 of a significant fee increase to a range of USD $7000-$9,000, the Board has obtained a cost proposal from Ellsworth Gilman & Stout, CPA to provide the annual review and tax preparation services for USD $ 4,500 for a one-time engagement. This proposal is also a significant reduction from their billing rates as well as their original estimate based on initial discussions of the engagement. The
firm's partner has indicated that, if IAGR is satisfied with their
services, they would be open to discussing a multi-year engagement in
order to manage the escalating costs of such professional services.
As stewards of the IAGR Treasury, the Board is focused on the objective of securing a professional accounting firm who is mindful of our limited resources and will cooperate in keeping fees to a reasonable cost.
Following from the required 45-day notice, please find attached the ballot to be completed and returned by each jurisdiction's voting member. This ballot issue asks the Members to approve the appointment of the new firm Ellsworth Gilman & Stout, CPAs for the 2013 annual review and tax preparation services.
The voting period will be open from Thursday, April 3 through Friday, April 18. The Voting Members should return their jurisdiction's ballot to Secretary Trude Felde at tfe@lotteritilsynet.no no later than 5:00 PM, Friday, 18 April (Oslo, Norway time).
Only the designated voting member from each jurisdiction will need to complete and return the ballot. Please contact Secretary Trude Felde if you need confirmation of the voting member from your jurisdiction.
We thank our members in advance for your time to respond on the ballot issue in early April. If you have questions about this matter, please contact me or any of the Trustees.
Peet Meng LAU
IAGR President
For members' background information:
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this "special meeting" is allowed to be held electronically (Section 4)
and has been called in order to satisfy the requirement in Section 4.1
(2) that "The following business shall be conducted at each Annual
Meeting of the association (a) receiving IAGR's financial statement, and
audit report, for the last reportable fiscal year". Thus, in order to
provide the 2013 Annual Review report to the Members in October at the
Philadelphia gathering, it will be necessary to obtain Member approval
to appoint a new CPA firm this spring with whom IAGR can engage and
conduct the review in a timely manner for delivery by October.
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in addition, when the Association moved to independence in 2011, the
decision was made at the time to register in Nevada USA and file all
appropriate documents within that state & country. The bylaws
Section 7 Funds and Accounts identify further that Section 7.1 (2)
"Records and accounts must be kept in the English language showing full
and accurate particulars of the financial affairs of the IAGR. Such
records and accounts must be retained for seven (7) years or such period
as Nevada's laws and requirements may prescribe." In order to follow
this requirement, IAGR has engaged CPA firms based in Nevada who are
most familiar with such regulations.
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From Section 4.3 (6): The quorum for Special Meetings shall be half
of the trustees, in the case of the Board of Trustees members or twenty
(20) Jurisdictional Members from at least three (3) different
continents, as applicable.
- And finally from Section 4.4 (1):
Jurisdictional vote. If the manner of deciding any question by IAGR, or
any Committee thereof, has not otherwise been prescribed in these
Bylaws, such questions shall be decided by a Jurisdictional Vote on the
basis of a majority vote.
As
always, a complete copy of the most recent bylaws document is located
on the IAGR website. The text is displayed in full as well as a PDF
copy of the signed version from the most recent Annual Members meeting.
You may find both available here.
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