Finance and Audit Committee

2020-06 Finance and Audit Committee Terms of ReferenceChair:

  • Marco Marchetti, Treasurer (Italy)

Members:

  • Catherine Holliday (Australia)

HTAi Secretariat:

  • VACANT, HTAi Executive Director (Canada)
  • Tatiana Hagerty, Coordinator, Governance and Executive Projects (Canada)

Terms of Reference

  • Chair: Treasurer
  • Members: The Committee will consist of no less than five (5) and no more than the number of Directors (of the Board) who shall be all members of the Board and are not Officers or employees of the Society. There will be a minimum of two (2) members with financial management experience, nominated by the Chair of the Finance and Audit Committee and ratified by the Board.
  • Term of appointment: The term of a Committee member shall be up to three years and shall not exceed their term on the Board.
  • Frequency of meetings: Once every quarter and additionally as deemed appropriate by the Chair.

RESPONSIBILITIES/AUTHORITY:

  1. Reviewing revenue forecasts and expenditure plans presented by management;
  2. Making recommendations to the Board for approval of an annual budget;
  3. Monitoring actual revenues and expenditures against the budget forecast, and recommending to the Board any necessary adjustments;
  4. Reviewing the annual audited financial statements with the auditor;
  5. Recommending to the Board any changes in reserve policy (based on annual review);
  6. Recommending to the Board any changes to internal controls;
  7. Overseeing compensation packages.

Finance and Audit Committee Terms of Reference