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Extraordinary Resolution Passed at Special Members Meeting

Monday, August 21, 2023 3:44 PM | ACFE-GTA Administrator (Administrator)

Toronto, ON: On Monday August 21, 2023, the ACFE-GTA Chapter held a Special Members Meeting to consider an Extraordinary Resolution (requiring 80% of the Members present at the meeting voting in favour of the resolution, providing quorum is achieved), as defined by the Ontario Not-For-Profit Corporations Act (2010), which was proclaimed on October 19, 2021. The meeting was attended by 17 Voting, Paid-Up Members of the Chapter, who unanimously (100%) voted in favour of the Extraordinary Resolution, which was carried. Quorum for the meeting, as specified in the Chapter's By-laws, was 8 Voting, Paid-Up Members in attendance (5% of the Voting, Paid-Up Membership as of August 21, 2023).

The Extraordinary Resolution:

That for the Fiscal Year ending December 31, 2023, the ACFE-GTA Chapter (a) not appoint a Licensed Public Accountant; (b) not have an audit; (c) not have a review engagement; and (d) to have a regular review of the Fiscal 2023 Financial Statements by an independent Chartered Professional Accountant and not a Licensed Public Accountant; and (e) to appoint Jagmohan (Jag) Budwal, CPA, CFE, CFI, Q. Med., to act as the person to conduct such review.

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