IRD Power of Attorney:BASIC August 2011
NOTE: The following training provides guidance on IRD’s Power of Attorney process. This is not a policy document.
What is a Power of Attorney (“POA”)? A POA is a document that authorizes legal or financial action on behalf of the CEO.
What is the difference between and POA and DOA? • DOA Internal authority • POA External authority
What does a signature represent? Approval Authorization Intent Proof of identity Acknowledgement
A POA is like a “Letter of Introduction” A POA gives you the right to:
A POA does NOT give you the right to sign: * Please see IRD’s DOA BASICS presentation for more information about the listings above.
Three A’s of the POA: AuthorityAppointmentAction
Characteristics of a POA: • Name- IRD personnel who is to receive legal authority to act on behalf of the CEO. • Location- the geographic area where the authority is legal • Coverage- what types of documents are authorized to be signed on behalf of the CEO • Date- date authority to act expires NOTE: All POA’s are renewed annually at the end of each year. • Notarization- indicates the legal approval of the transfer of authority to act on behalf of the CEO. • “Authentication / Apostille process” – the steps taken to make the POA legally recognized
NAME LOCATION COVERAGE DATE OF EXPIRATION NOTARIZATION EXAMPLE
A POA is an external legal document: • IRD will monitor all POAs from the initial request until expiration of authority • You must maintain copies of all signed documents authorized by your POA. • You may be asked to produce these at any time by HQ.
Consequences of Violations • IRD personnel who sign on behalf of the CEO will be held accountable. • IRD personnel who disregard the terms and conditions of the POA will be subject to disciplinary actions, which includes termination of employment.
For More Information Contact Program Operations at HQ