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You are here: Home > About > DAI Structure > National Executive Committee/Board > Finance & Risk Sub-Committee

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Finance & Risk Sub-Committee



Terms of Reference:

Purpose:  The role of the Finance & Risk Sub-Committee is to assist the Board in the management and monitoring of the organisation’s finances and HR policies.  The Sub-Committee is particularly important as it helps to prevent fraud by ensuring that one person does not have control over finances. It also provides continuity in the event that the Treasurer resigns. The Finance & Risk Sub-Committee will report to the board at least 4 times a year on finances.  Ultimately the Finance Sub-Committee enables transparency and accountability, one of the main principles of the Governance Code.

The function of this sub-committee is to monitor and review:

  • The accuracy of financial statements of the organisation.
  • Any announcements made about the organisations financial performance and financial controls.
  • Control and risk management systems.
  • The external auditors independence and effectiveness of the audit process.
  • To oversee HR policy and practice in DAI.
  • Arrangements by which staff in the organisation may raise concern on possible improprieties in matters of financial reporting and other matters.
  • Making recommendations on pay and conditions of staff including review of salaries.
  • To recommend to the Board the level of financial authority delegated to the CEO and Finance & Risk Sub-Committee.

Membership: The maximum number of members of the Sub-Committee shall be set at 4 (excluding ex-officio members).  The CEO and Finance Manager will be ex-officio members.

Chair: The Treasurer will act as the Chairperson of this sub-committee. The Treasurer should have skills and experience in finance and accountancy. The current Chairperson of this sub-committee is Fergal Ó Briain (Treasurer).

Secretary: The Finance Manager (ex-officio).

This sub-committee meets approx. 6 times each year and reports to the Board after each meeting.

 

 

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DAI activities are part-funded by the Department of Housing, Planning, Community and Local Government (Scheme to Support National Organisations 2016-2019 administered by Pobal), the Special Education Section of the Department of Education and Skills, SOLAS and KWETB.