Ordinary Resolution D.
“THAT an audit committee is formed with the purpose:
to assist and check the preparation of financial records presented to General Meetings so that they are accurate, authentic and meet the needs of members;
to assist and check the preparation of the information needed for a social audit;
to organise elections in accordance with Clause 38;
to record, check and authenticate that the procedures are being followed when voting takes place in a General Meeting.
to regularly review the Board has maintained up-to-date records of all qualifying contributions made by members.”
Moved by Nick Meyne, Secretary
Now this one is very important. It’s vital for trust and transparency that we have some active oversight of our financial and social activities (it’s not all about money!) including our membership, our statistics, payments and rights administration. This is a complex area so we’d really welcome anyone with relevant skills and time to step up and ensure we are seen to be honest and true to our membership and that we comply with all our obligations. We hope to be accepting nominations and making appointments early in the new year.
related information from the Resonate Rulebook:
vi. An audit committee of up to four people (comprising non-Board members from at least two shareholder classes) will be elected at the third AGM (Annual General Meeting), and each AGM thereafter.
Organizing board elections seems out of scope for an Audit Committee. Can you help me understand why this responsibility is included? Is it because this is the only committee required by the Rulebook beside the Board?
@Nick_M should be able to give some more info on this
Hi @remst8 yes I agree the remit of the audit committee is rather mixed, and that other committees should be formed, as more volunteers come forward.
For example in other organizations / co-operatives I have worked with a nominations committee and a governance committee. The nominations committee provides the independent scrutiny of nomination and election processes and officer appointments. The governance committee provides assurance on the overall governance design and its healthy operation, including the organisation structure and mechanisms that allow the voices of the membership, the exec and expert advisors to be balanced out.
The current remit in the Rulebook is what we inherited… It would be great if one of its first jobs was be to review the remit and propose changes, including recommending new committees.
Here is an example of a charter for a governance committee that I prepared and implemented for another co-op:
We could learn from other co-ops and see what works for us.
Thanks, @Nick_M - that gave me the context I needed.
It’s very cool that the Rulebook has scaleability triggers built in, but it also helps to know that it is an inherited baseline; that there is an expectation that we have more work ahead of us to tailor it to our needs.