Finance and Audit Committee (FAC) provides advice and recommendations to the board on financial administration matters, including fees and budgets. The FAC also reviews the effectiveness of financial controls and related risk management activities and facilitates independent audits.
The FAC consists of at least three members: one public board member, one registrant board member, and either a BCCNM registrant or a member of the public. Appointment terms are one year. A person may serve on the FAC for up to six consecutive years.
The FAC usually meets every quarter prior to the scheduled board meeting. The number of meetings a committee member attends in a year varies; however, members should be prepared to commit to four regularly scheduled meetings per year in addition to an annual orientation. Meetings are held in-person or via teleconference.
The document below includes information about the professional or academic skills that committee members may need, as well as other elements relevant to the work, such as personal values, lived experience, varied backgrounds, perspectives, and knowledge.