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Internal Audit attendance at AGM

  • 18 Jun 2021 3:44 PM
    Message # 10664666
    Deleted user

    Has anyone heard of the Board requesting that the Internal Auditor attend the AGM?  If so, for what purpose?  The Internal Auditor attends the Audit Committee meetings, and the Committee has the opportunity to go "in camera", but why at the AGM?  

  • 19 Jun 2021 2:31 PM
    Reply # 10670006 on 10664666
    Deleted user

    I guess it depends on what you mean by “attend” (participate? Or merely be present?) and the nature of your “AGM” (is it a mass meeting of members /shareholders? Or just the directors sitting as members? Or a public/stakeholder event?), as well the peculiarities of your organization (are you small enough to not have an external auditor?), but I think you’re right that Internal Audit normally doesn’t play a major role at a typical AGM. 

  • 21 Jun 2021 2:18 PM
    Reply # 10680291 on 10664666
    Deleted user

    We do have an external auditor, and they attend the year-end audit committee meeting to review the statements and provide their audit report. The internal auditor is also present during that meeting.  Our AGM is the Directors, three of whom are proxyholders, and this is the formality to approve the statements, re-appoint auditors, elect officers, etc.  The AGM takes place after a full Board meeting, and only takes about 5 minutes to complete those formalities.

  • 28 Jun 2021 11:09 AM
    Reply # 10707706 on 10664666
    Deleted user

    Hi Karen,

    While we notify our external auditors of our AGM, given the appointment of the auditors is an agenda item, they don't attend the AGM.

    All the best,

    Mae-Yu



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