Finance Audit and Risk Management Committee
FARMC provides independent oversight of EACO's financial health, strategic plan implementation, risk management, and audit functions — advising EXCOM to ensure organisational sustainability.
- Strategic Plan and Budget review
- Working Group performance monitoring
- Financial statements and audit oversight
- Revenue sustainability recommendations
- Risk assessment and management advice
- Financial rules and regulations review
Committee Leadership
Terms of Reference
Review EACO's Strategic Plan, Annual Action Plans and Budget and make recommendations to EXCOM.
Review the performance of the Working Groups in line with the implementation of the Strategic Plan (monitoring & evaluation).
Review the Financial Statements before being audited and present the audit reports and recommendations to EXCOM for approval.
Review EACO financial rules and Regulations from time to time as it deems necessary.
Review from time to time the status of EACO's income and recommend alternative sources of revenue that would help towards its sustainability.
Review the internal audit plan and reports, and make appropriate recommendations to EXCOM.
Assess EACO risk management and advise EXCOM appropriately.
Advise EXCOM on financial sustainability of EACO and other matters related to finance and risk management of the organisation.
Safeguarding Financial Integrity
FARMC plays a critical oversight role in EACO, ensuring that financial resources are managed responsibly, strategic plans are implemented effectively, and risks are identified and mitigated proactively.