Since December 2011 the seat of ICSOBA moved from India to Canada, where it is legally registered with Corporations Canada, Ontario under number 802906-7, and with Registraire des Entreprises, Québec under number 116798181.
ICSOBA fiscal year with Revenue Quebec and Revenue Canada is from 1 January to 31 December. Continuing our dedication to transparency ICSOBA finances are audited. Since 2013 a public accountants' office of Gariepy & Bussiere is requested to carry out the annual task. In all previous years and in the 2018 financial audit we read: “Based on the review, nothing indicates that the 2018 Financial Statements are not in accordance with Canadian accounting standards for non-profit organization”. Following the financial review tax declarations were filed with Revenue Quebec and Revenue Canada for 2018. The 2019 tax declaration will be filed in the spring of this year.
ICSOBA primary revenue leaders are the events, sponsors and corporate members. As a non-profit, ICSOBA focuses on using all resources to advance the association’s mission. The available funds belong to the association and are meant for the development and promotion of ICSOBA and future events. Some money reserve is necessary for rainy days and to continue uninterrupted operations and monetary advances. The annual Financial Statements are available at the registered office of the Association and any member may, on request, obtain a copy.
The Payment Policy (can be obtained upon request) governs the payment of fees, stipends, allowances, and the provision of reimbursements and all other benefits and entitlements to members (the “Members”) of the International Committee for Study of Bauxite, Alumina & Aluminium (“ICSOBA”).