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FEI
COMMITTEES
AUDIT AND COMPLIANCE COMMITTEE
Sadly the elected chairman of the Audit & Compliance
Committee, Philip Billington, passed away in April 2009. In
order to safeguard the role of the Committee - to ensure that
a culture of compliance be maintained and developed and
that appropriate supervisory architecture be continuously
improved - Brian Mangan was named acting Chair.
Main items/activities included
A two-day visit to the FEI offi ces in May included a formal
committee meeting which covered the areas of fi nancial
statements, the unsatisfactory overdue debtor situation, the
building and IT projects, internal control, accounting systems,
sponsorship and commercial issues.
The meeting planned for September/October took place
by teleconference. Costs and savings associated with the
proposed changes in governance structure were queried and
also compliance with the new expenses policy. The current
situation with regard to aged debtors and the building
and computer projects was discussed. Additional matters
addressed included insurance, outstanding legal cases and the
future plan for this committee.
Other activity during the year involved regular monitoring of
reports from the Executive and their communication with the
Bureau.
The Future
The economic crisis is fundamentally changing the way that
audit committees are working. There is a need to increase
audit committee involvement with the Executive in line
with international trends. Risk management is now at the
forefront. This will involve the Executive identifying risks and
their potential impact, taking action to reduce or eliminate
risks and systematic monitoring and review. Oversight of
compliance, fi nancial performance, fi nancial statements and
20 FEI ANNUAL REPORT 2009
internal controls must also be structured, continuous and
supported by high quality information. The overall approach
should be strategic with the Audit & Compliance committee
seeking to understand the key issues the Executive have to
address particularly those posed by the present fi nancial crisis.
NOMINATIONS COMMITTEE
The Nomination Committee (NC) met in Lausanne (SUI) on
28-29 September 2009.
On 28 September the NC reviewed the applications received
by FEI Headquarters for all open positions on the Standing
Committees and the FEI Bureau. During their review the NC
took note of the names of the candidates having received
the unanimous support by the relevant Technical Committee
and the explanation given by Technical Committees backing
the reasons. The input from the Directors was also sought.
All candidacies were deemed by the NC to fulfi ll the
necessary criteria for performing the job specifi cations
related to each position.
The NC made recommendations to the Bureau and the
General Assembly for each vacant position.
On Tuesday, 29 September the NC reviewed in detail the
applications received for the FEI Board; the proposed body
which would replace the Bureau in the new governance
structure. The structure proposal had been included in the
new Statutes and would require the approval of the 2009
Extraordinary General Assembly in Copenhagen (DEN).
The number of Board members had been set to seven
members including the President. One seat would be
reserved for an athlete from one of the three Olympic
disciplines. The remaining fi ve members would be selected
from the candidatures sent to the FEI by the National