The roles and responsibilities of an organisation’s finance committee vary depending on the organisation or company. However, some common roles and responsibilities of a finance committee may include:

Works on behalf of the main board: The finance committee will monitor, evaluate and recommend to the main board on financial matters. It will not normally make decisions independently but will make recommendations for ratification by a main board.

Budgeting: The finance committee helps to develop, review, and approve the organisation’s budget.

Financial Reporting: The committee is responsible for reviewing and analysing financial reports and statements to ensure that they accurately reflect the financial position of the organisation.

Risk Management: The finance committee identifies and manages financial risks facing the organisation and recommends or takes steps to mitigate these risks.

Investment Oversight: The committee oversees the organisation’s investment strategy and ensures that investments are managed prudently.

Fundraising: The committee may assist in fundraising efforts, such as developing a fundraising strategy, identifying potential donors, and soliciting donations.

Audit: The finance committee works with auditors to ensure that the organisation’s financial statements are accurate and comply with relevant accounting standards.

Compliance: The committee ensures that the organisation complies with financial regulations and laws.

Financial Planning: The committee develops and implements financial plans and strategies to achieve the organisation’s goals.

Overall, the finance committee plays a critical role in managing the financial health of an organisation and ensuring its long-term sustainability by working on behalf of a main board and providing valuable advice and recommendations.


Some common roles and responsibilities of the Chairman of the finance committee may include:

Leading the committee: The Chairman of the finance committee leads and manages the committee, ensuring that it operates effectively and efficiently.

Setting the agenda: The Chairman sets the agenda for committee meetings and ensures that the agenda items are relevant and important to the organisation’s financial well-being.

Chairing meetings: The Chairman presides over committee meetings, facilitating discussions, and ensuring that all members have an opportunity to speak and share their views.

Providing guidance: The Chairman provides guidance and direction to the committee on financial matters, including financial reporting, risk management, investment oversight, and compliance.

Liaising with management: The Chairman serves as a liaison between the committee and the organisation’s management team, ensuring that the committee’s concerns and recommendations are heard and acted upon.

Representing the committee: The Chairman represents the finance committee to the board of directors or other stakeholders, communicating the committee’s recommendations and decisions.

Overall, the Chairman of the finance committee plays a critical role in ensuring the effective operation of the committee on behalf of the company’s main board.

The Finance Committee and Committee Chair Responsibilities