IEEE Standards L50S Financial Report
Annual Report Deadline
30 March, annually
L50s — In order to provide compliance with IEEE Audit, each Working Group Sponsor Chair and Treasurer will be required to complete a Principle of Business Conduct/Conflict of Interest (POB/COI) form.
EZ L50s — For those groups operating on a cash basis, Form EZL50s (.xls) will simplify the process for Standards Working Groups meeting the following criteria:
- All of the conditions listed below must be true to be able to use this form to prepare the Working Group’s Annual Financial Statements (Report L50s)
- The IEEE Standards Working Group DID NOT HAVE ANY of the following financial activities for the year ending 31 December 2012:
- Employee Salaries
- Employee Salary Taxes
- Accounts Receivable or Accrued Expenses / Payables
- Fixed Assets and/or Depreciation
- Long Term Investments or IEEE Investments
- Cash Loans (Receipts / Disbursements)
If the Working Group has ANY of the items listed above, you MUST submit the more detailed L50s Report. The EZ L50s contains the new compliance requirements above.
About the Report
The L50S Report (.xls) has been specially designed for Standards use. Please do not attempt to change the form. If a message warning regarding macros pops up, please be assured that the integrity of the files can be trusted.
Electronically submitted documents meet reporting requirements as long as they have complete signatures, a mail hard copy is not necessary.
Documentation may be sent in pdf, gif or jpg format and sent as via email or fax. If reporting bank account related financial activity, please make every attenpt to submit original bank statements.
Expenses over $100K
Any annual reported receipts or expenses over $100K are required to have an independent audit by either an IEEE Internal Audit or by an Independent Audit Firm. Audit should be completed by end of June. Questions should be directed to Frank Czapor at 732-562-6355.