BOARD COMMITTEES - FINANCE COMMITTEE
It is the fiduciary
responsibility of the Board of an organization to be accountable for the
finances. In other words, the Board is expected to oversee the financial
affairs of the organization and is accountable to the donors, government,
community and society at large. Therefore, the Board has the ultimate
responsibility for the financial affairs of the organization.
However, not all
Board members would have the financial management acumen. Secondly,
since the Board members provide voluntary service to the
organization, they may not have adequate time to devote to detailed financial
oversight. Therefore, the Board sometimes appoints a Finance Standing
Committee consisting of some Board members and specialists.
