The meeting is chaired by the IORA Chair and quorum is achieved with the TROIKA. Moreover, other Member States may participate in the meeting on a voluntary basis.
In practice, the committee meets twice a year to take cognizance the expenses report and review the budget for the coming year.
Moreover, during the holding of this meeting, supported by the Director of Corporate Services of the Secretariat, Member States assess the organization’s audited financial statements and ensure that the organization finances are in line with international standards.
Following which the documents are submitted to the Committee of Senior Official (CSO) meeting for approval.
In short, the Sub-Committee on Finance contributes to the transparency and accountability in the management of funds of the organization.
