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Finance & Audit Committee

The Finance & Audit Committee oversees budgets, financial risk and external audits—ensuring that the Federation remains solvent, transparent and aligned with its mission and members’ expectations.

It sets policies for budgeting and reserves, supervises financial reporting, and coordinates independent audits and risk management. The committee also advises on funding models and value-for-money of programs.

Deliverables include annual statements, risk registers, audit plans and recommendations for financial governance improvements.

What This Committee Does

It ensures prudent budgeting, robust controls and timely, accurate reporting, providing independent assurance to members and stakeholders.

Mandate & Scope

Budgeting & reserves, financial reporting, audits, risk management, procurement and controls.

Structure & Governance

Finance director, audit chair, external auditors and risk advisors; independence safeguards and rotation rules.

Workstreams

Annual budget, periodic reporting, external audits, risk register, controls testing, procurement reviews.

Coordination

Works with all committees on budget impacts; informs Governance on control improvements.

How the Committee Operates

Calendar-based reviews, quarterly reporting, risk workshops and audit follow-ups with documented actions.

Annual Cycle
  • Budget proposal & approval
  • Quarterly management reports
  • External audit & findings
  • Risk review & controls testing
  • Recommendations & improvements
Key Deliverables
  • Annual financial statements
  • Audit plans & reports
  • Risk registers & mitigation plans
  • Procurement & control policies
Who Can Join

CFOs/finance directors, chartered accountants, risk managers, audit-committee chairs.

Meetings & Decisions

Quarterly sessions and ad-hoc reviews; tracked action lists and management responses.

How the Federation Supports This Committee

Finance systems, reporting templates, auditor coordination and secure data rooms support efficiency and rigor.

Process & Controls

Budget timetables, report packs, policy repositories and audit trails.

External Audit Coordination

Engagement letters, PBC lists, findings tracking and close-out meetings.

Cross-Committee Links

Budget alignment and controls guidance for technical and accreditation programs.

Data Security

Secure rooms and access controls for financial documents and audit evidence.

Finance & Audit Committee Members

No members are listed in this committee yet.

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