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Role of the Finance, Governance and Risk Committee:

Review and modify the By-Laws as required, with final approval of all modifications by the IFEM Board.
Act as an advisory group with respect to the direction of IFEM.
Ensure that the IFEM Board, its Executive, and its national association members conduct all IFEM activity in harmony with the By-Laws.
Under the direction of the Treasurer, manage the financial affairs of the Federation
Provide advice and reports to the Board to ensure proper oversight of the finances
Review the annual budget and make recommendations to the Board as appropriate
Regularly review the fee structure and provide recommendations to the Board as necessary
Ensure appropriate reporting, risk management, accounting and internal controls including audit, are in place
Arrange for the formation of such subcommittees or working parties deemed necessary by the IFEM Board or its Executive to assist in this process. The Chair of such subcommittees will be a member of the
Committee and will report to the Committee
Individuals co-opted by the Board to act as resource persons in relation to outside bodies on behalf of the Committee to report to the Board via the Committee
To consider strategies for revenue generation and growth with the aim of financial independence for the Federation