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

Finance Committee

FinCom

 
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Scope

The Finance Committee (FinCom) is an advisory committee to the Treasurer and its scope is as follows:

  1. FinCom makes recommendations to the Treasurer 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,

    • multi-year budget outlook,

    • dues objectives, and

    • use of the reserves.

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

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

  4. FinCom strengthens the liaison, on financial matters, between the Treasurer and the National Committees and contributes 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