1. Audit Report for 2014 R10 Financial Activities Michael Ong Chair, 2015 R10 Audit Committee 7 March, Dhaka, Bangladesh

2. R10 Finance Auditing Audit committee was formed to audit the 2014 R10 finance: –Chair: Michael Ong (2015 R10 Membership Development Coordinator) –Members: Shaikh Anowaruk Fattah (Bangladesh Section Chair), Ramakrishna Kappagantu (2015 R10 Director), Ravikiran Annaswamy (2015 R10 Secretary), Takao Onoye (2014 and 2015 R10 Treasurer), H.P. Khincha (2015 R10 Life Member Coordinator), Toshio Fukuda (2014 R10 Director), Hidenori Nakazato (2014 R10 Secretary), Kukjin Chun (R10 2015 Director Elect) The following summary documents were reviewed by the committee: –2014 R10 Budget Report –2014 R10 Daily Report –2014 R10 L50

3. Audit Process Draft of the summary files were ready on 24 February 2015. Review, discussions and amendments were made by emails from 24 February through 5 March. Audit committee meeting was held on 6 March at Sarina Hotel, Dhaka, from 15:15 to 18:15.

4. Audit Committee Meeting

5. The committee: –Confirmed all the income and expenses are clearly and accurately reflected in the three summary files. –Motion: 2015 R10 Meeting accepts the audited account as the true copy for the 2014 financial activities. The committee thanks Takao, 2014 R10 Treasurer, for his excellent work done. Keep up the good work for 2015.

6. Findings(1): Airfares Airfares account for a substantial portion of the total R10 expenses: –Example: 2014 R10 Meet in Kuching  Total expenses: USD141,485.02  Total airfares: USD66,182.97 (46.8%) It is essential to minimize the airfare by securing LOWEST discounted economy class by early travel arrangement.

7. Findings(2): Analysis of Expenditure The R10 Reserves is higher due to - under-spending of the Excom, AGM and Section Congress meetings - additional support from HQ for Section Congress Recommendation: R10 to support the following activities - R10 golden Jubilee celebrations in 2016 - Section Congress in Asia Pacific 2017 - Other activities to be proposed by the 2015 Strategic Planning Committee