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Terms Of Reference Of The PFM Committee

The Board of Directors of AWAK resolved to constitute a Public Finance Management Committee with the following Terms of Reference.

1.AWAK vision and mission

The Association of Women Accountants of Kenya (AWAK) is a non-political and non-profit making professional women accountants’ organization, which draws its membership from women accountants. Registered in 1994 under the Societies Act, the association continues to pursue the main objective of member empowerment, at the same time contributing to varying needs in society. With its motto “Uplifting our World,” AWAK champions for women empowerment in the society.

2.Specific Objective:

To assist the board of directors in fulfilling the strategy to increase AWAK and members participation, knowledge and initiatives in the Public Finance and Management eco-system.

 3.Composition

a.The Board shall, by resolution, appoint a chairman from among the Board Members.

b.The Committee members shall appoint a Vice Chairman who will support the Chairman and is the designate Chair in the absence of the Chairman.

c.The Secretariat will act as secretary and will take responsibility for recording the deliberations & implementing decisions reached at each meeting.

d.Membership will be drawn from AWAK members other than the Board

4.Qualifications

  1. All fully paid up members of AWAK in good standing are eligible
  2. Members must express willingness to serve on the committee, attend meetings and volunteer their time and services
  3. If the member composition exceeds 20 members the Chair of the PFM will develop a qualification criterion in consultation with the Board and Nominations Committee

5.Meetings and Procedure

  1. The Secretariat will act as secretary and will take responsibility for recording the deliberations & implementing decisions reached at each meeting.
  2. Meetings shall be held at least once before every Board Meeting­­­­­­­­­­­­­­­­
  3. Three members present shall constitute a quorum.
  4. AWAK secretariat may attend the committee meetings however only members of the Committee shall have a right to vote.
  5. Notice of meetings together with the agenda be sent at least two weeks to the date of the meeting
  6. Minutes of all meetings shall be sent to the members within one week after the meeting

6.Responsibilities

The functions of the Committee shall include but not be limited to the following:

  1. To develop forums for Public Finance Management training
  2. To host at least 1 PFM event in a year
  3. To involve as many AWAK members in conducting training for PFM
  4. With the support of the Board, develop partnerships with county governments to conduct training on a demand/ need’s basis.
  5. Share opportunities to provide services to the public sector to our members

7.Review of the Committee

  1. The Committee shall undertake an annual self review of its objectives and responsibilities.
  2. The committee shall also be subject to a review by the AWAK Board on an annual basis

8.Reporting Procedures

  1. After each Committee meeting the Chairman shall report the Committee’s deliberations to the AWAK Board.
  2. The minutes of all Committee meetings shall be circulated to Members,
  3. The Chairman shall present an annual report to the AWAK Board summarizing the Committee’s activities during the year and any related significant results.

9.Cessation of Membership

Membership to the Committee shall cease to exist by;

  1. Resignation by the member giving the committee one months’ notice ad handing over any activities the member has been involved in
  2. Failure to attend three consecutive meetings unless a waiver is obtained from the Chairman. The waiver will be provided after the meeting considers the support the member is providing to the Committee remotely
  3. Member is not in good standing
  1. Terms of Reference

These terms of reference shall be subjected to review by the Board.

BY ORDER OF THE BOARD