Dear Executive Committee, Bijal,
The audit committee has undertaken more comprehensive audits in 2021 and
2022 and, as you know, we have provided a 'clean' audit opinion in both
years with regard to the financial statements as per the Annual Reports.
However, a number of structural issues and lack of controls have been
identified for two consecutive years which should be addressed.
We have compiled the attached report from the various emails and
discussions across both years so that we can present them to you as a
complete document in the hope that the Board and Executive can make
progress on these findings.
These issues should be viewed as an opportunity to improve by adding the
appropriate structures, policies and procedures that strengthen the
organisation. We have tried to be mindful of Euro-IX’s size and hope
that the scope of the suggestions are appropriate to the scale and
structure of the organisation.
We would of course be happy to discuss any of the contents in greater
detail,
Kind regards,
Barry O'Donovan
On behalf of the Audit Committee
