Chair of Finance Audit and Risk Committee (FARC)

Role Purpose:

The Chair of the Finance, Audit and Risk Committee (FARC) is responsible with committee members for ensuring that there is an effective risk and financial management framework at the Humanist Association of Ireland (HAI). The FARC is a formal subcommittee of the Board.

Key Tasks:

• Assist the Chair, Directors, Chief Executive and Head of Finance in ensuring that the Board fulfils its duties and responsibilities for the proper financial governance of the charity.
• Provide independence in assessing the charity’s identification and effective management of risk.

Financial reporting

• Scrutinise and provide insight to the financial plan, financial policies, agreed financial objectives and targets.
• Support the annual budgeting and financial management processes including monthly and quarterly financial reporting.
• Monitor the effective and efficient management and administration of the HAI’s financial procedures.

Audit

• Scrutinise the process for identifying and recommending appointment of external auditors in line with regulatory requirements.
• Review and approve the annual audit plan and ensure that it is consistent with the scope of the audit engagement.