Auditing the Company
One of the first actions I believe should be carried out, in the aftermath of the EGM, is an audit of the company’s records in microscopic detail.
Unfortunately, the remnant directors who were part of the old regime are not the right people to audit themselves. It’s another argument for getting a clean pair of hands, with deep understanding of Nominet, into leadership as soon as possible: Sir Michael Lyons.
He needs to have the authority of an incoming Chairman to access every single balance sheet from preceding years, every single transaction, and every detail of cross-subsidisation, claims of ‘suspended profits’, the actual profit and loss sustained on each venture, and each TLD contract that Nominet has bid for or obtained.
It needs to go deeper: it needs to look at staff culture, management culture, and accounts of staff members. I have reason to believe there will be disturbing disclosures.
I wonder what members here on ‘Discourse’ believe should be investigated, and what issues deserve closer investigation? Are there detailed minutes of meetings, withheld from public view? Sir Michael should see these. Precisely how much money has been squandered in various investments?
The present Board should not be auditing the company, because in effect they would be auditing their own actions and mandates. It’s a cogent reason why the appointment of Sir Michael should not be delayed.
Biting the hand that feeds IT
