Region 1 Audit Committee Report 1 March 2012 Audit

1. Region 1 AuditCommittee Report1 March 2012 Audit Harold Ruchelman Region 1 Audit Committee Chair <h.ruchelman@ieee.org> Region 1 Meeting Hartford Marriott Downtown San Francisco, California March 9, 2012

2. Region 1 Audit Conducted March 1, 2012 at IEEE Headquarters in Piscataway, NJ Period Covered: June 1, 2011 to December 31, 2011 Committee: • Harold Ruchelman, Chair • Robert Pellegrino, Committee Member • Emily Cummings, IEEE Staff Assisted by: • Bala Prasanna, Region 1 Treasurer

3. Audit Objectives • Review • Record keeping of Region 1 Treasurer • Procedures used by Treasurer • Expense vouchers and documentation • Account statements and cancelled checks • Verify • Account balances • Net worth 3

4. Findings Net worth summary 4

5. Findings Net worth summary 5

6. Findings Net worth summary 6

7. Findings Net worth summary 7

8. Findings (continued) • There were ten outstanding checks, totaling $5,404.12, as of December 31, 2011. • Back-up for electronic fund transfers were missing. • One individual was not reimbursed for his travel expenses.

9. Recommendations When IEEE credit cards are used, proper documentations shall be submitted to justify said expenses. Expense Reports should indicate the purpose of the expenses. 9

10. Conclusion • The Region 1 Treasurer continues to do a competent job. He takes care in processing vouchers and maintains clear, accurate and complete records. • Records are in order and organized • Vouchers are checked and supporting information is present • Accounts are kept reconciled and accurately balanced

11. For additional information please contact me: Harold Ruchelman Region 1 Audit Committee Chair <h.ruchelman@ieee.org> 11