Financial aspects
ACQia, the Institute of Asgardia for the Assurance of Compliance and Quality, is responsible for performing checks and audits against APMF. ACQia is an institute that is independent from APCI.
Fees will be requested for these performing checks and audits against APMF. Initially, these fees will be quite low and mostly used to test the procedure of the payment structure and the financial processes, including taxation, allowing for learning and adjustments in financial processes before scaling up operations. As described in ACQia.Space, the fee will be distributed to the people that performed the check / audit and to APCI. APCI will distribute the received part of the fee to the people that set up APCI, its procedures and templates and the relevant committees, based on time and effort expended. The distribution will be decided and justified by a designated internal APCI treasurer. This approach aims to ensure equitable compensation for contributions while maintaining financial transparency.
All financial activities would adhere to Asgardia's Tax Law. This will ensure that all financial activities of APCI, including the collection and distribution of fees, comply with the tax laws and regulations of Asgardia. Maintaining clear, transparent and accurate financial records to support compliance with taxation requirements. Periodic audits will be performed to verify adherence to tax laws and to identify any areas for improvement in financial practices related to taxation.
The long-term aim is for the APCI to become financially self-sustaining, eventually providing reasonable compensation to all involved staff. Establishing a financial model that ensures the institute's operations are self-sustaining in the long term. This will be assisted by gradually increasing audit and other service fees to a level that supports the operational costs of the APCI. The aim is for the APCI to reach a point where it can financially support itself, including reasonable compensation for staff and volunteers. Reducing the dependency on external funding sources, will enhance the institute's financial independence, autonomy and stability.
See the "Financial aspects" section of the ACQia site for a presentation of the financial flow of AIS, APCI and ACQia.