International Standards and Conformity Assessment for all electrical, electronic and related technologies

Finance Committee

FinCom

 
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Scope

The Council Board (CB) has created FinCom as an advisory body to assist the Treasurer to support the financial planning of the organization.

The Finance Committee (FinCom) will:

  1. make recommendations to the Treasurer regarding IEC financial planning and associated risks based on the review of the following :

    • draft budget (current operations and audited accounts are reviewed for background to support the review of the draft budget),

    • investment approach,

    • rules for depreciation,

    • multi-year budget outlook,

    • dues, and

    • use of the reserves.

  2. concur with the draft budget before the Treasurer presents it to Council Board.

  3. make recommendations to the Treasurer regarding potential new revenue streams.

  4. strengthen the liaison, on financial matters, between the Treasurer and the National Committees and contribute to the exchange of financial information between the IEC Officers and the National Committees of the IEC.

It comprises the IEC Treasurer, six members (three Group A member representatives and three non-Group A full member representatives) and the IEC General Secretary and CEO. Members of FinCom are elected for a term of three years. Members are automatically eligible for re-election for one further three year term of office.

FinCom should meet at least once a year.

Further information

Secretariat
IEC Central Office