SAN FRANCISCO: As the IABC is at last on the brink of appointing a
new CEO, early results of a Deloitte & Touche audit has confirmed that
the member body lost dollars 1 million in 2000.
The incumbent CEO, Elizabeth Allan, quit in January, after the discovery
that dollars 200,000 was missing from the organization's coffers, which
kicked off a catalog of woes. However, having shortlisted four
candidates, the IABC hopes to have hired its preferred replacement by
mid-June, when its annual international conference takes place.
The mystery candidate, according to interim IABC president Lou Williams,
is a current head of an international professional association.
Crucially, this person 'has experience taking over an association going
through financial duress.'
Deloitte & Touche's five-month investigation into the IABC's chaotic
books is expected to conclude that the organization has cleaned up its
bookkeeping and has provided two years of adequate cash projections,
meaning that the body may finally be able to put its problems behind it.