In Attendance –
Jonne Rinne – President
Unn Alma Skatvold – Vice President
Mark Marshallsay – Treasurer
Nigel Dennis – Head of Office
David Kennedy
Angels Bosch
Roberto Garcia
John – on behalf of Georgios Stamatakis
Kirsteen Brown – Note Taker
Apologies – Henry Bautista
The majority of the contents of these minutes have been redacted due to commercially sensitive matters being discussed . All Excom members have been supplied an clean and un redacted copy of these minutes, on the 3rd July 2023.
External Audit
A discussion around the need for an external auditor was discussed and JR believed that an internal and external audit was needed for full transparency.
MM confirmed having taken expert advice that unfortunately a UK company can’t audit a European account.
Everyone agreed.
ACTION – ND to source a new external auditor.
BTP EuroCOP Account
A brief discussion around the current bank account with Barclays took place. The question was asked if the Euro to Pound interest rates caused any difficulty with paying from the account. MM confirmed that it wasn’t a problem.
ND felt that due to MM involvement in the financial aspect of this that he would give some further background.
He confirmed that at the time of setting up an account various banks were approached to find one of international standing and that having undertaken due diligence in this matter, having explained what the account was for, that neither the UK bank or the Luxembourg bank had at any time had any issues or concerns.
He stated that to allow transferring of funds from the Luxembourg account to the Barclays account a letter is required to be written with both Head of Office and the Treasurer signing to release the funds.
MM suggested a meeting with the bank in Luxembourg to bottom out any issues.
ACTION – ND & MM to meet with the bank in Luxembourg and revert back to the ExCom
Meeting ended and the President thanked everyone for having this meeting at short notice.