Finance Commission
Overview
The Finance Commission provides independent financial oversight and advice to the Governing Board, General Assembly and management. It ensures that MRC's resources are managed transparently, responsibly, and in accordance with its financial policies supporting the long-term sustainability of MRC's humanitarian work.
5-7
Commission members
Every 2 months
Minimum meetings
2 years
Term of office
Max 2
Consecutive terms
The Commission is chaired by the Treasurer of the Governing Board. In the Treasurer's absence, a Chair is appointed by simple majority of those present. The quorum for any meeting is half of its members. In the event of a tie, the Chair holds a casting vote.
Members are selected based on the following:
Appointed by the Governing Board
Recognized knowledge of finance, accounting, and financial management
Must not hold any other board position within MRC
The Commission meets at least once every two months. It has unhindered access to all financial books and records across MRC and is required to report any irregularities or suspicions of fund misuse directly to the Governing Board. The Treasurer presents the Commission's findings and MRC's financial position to each General Assembly, covering the period since the previous session.
Financial year and audit
MRC's financial year runs from 1st January to 31st December. Key commitments include:
All accounts are audited annually by an independent external auditor
Audited accounts for the previous two years are presented to every General Assembly for adoption
The Commission and the external auditor meet at least once per year
All financial records are retained securely for a minimum of ten years
Current Finance Commission Members
The Commission is established by the Governing Board. It comprises five to seven members, all appointed for their recognized expertise in finance, accounting, and financial management.
How the Commission Functions
The Finance Commission advises on all financial matters affecting MRC. It works closely with the Governing Board to ensure sound financial management is applied consistently across the national headquarters down to regional office and Unit levels. Its core responsibilities include:
Budget advice
Reviewing budgets proposed by the Secretary General, including recommendations on income projections, expenditure planning, and financial sustainability
Policy guidance
Providing advice on financial policies and procedures across all levels of MRC
Monitoring and oversight
the Commission has full access to all financial records and must flag any suspicions of misuse or irregularities directly to the Governing Board
Reporting to the General Assembly
The Treasurer presents the Commission's findings at each General Assembly, covering MRC's financial position since the previous session
