– the intergovernmental organization through which Member States act together
     on matters related to measurement science and measurement standards.
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CIPM Sub-Committee on Finance

Purpose of the Sub-Committee:

The purpose of the Sub-Committee on Finance is to provide the CIPM, and its stakeholders, with confidence in the long-term financial plan of the BIPM, reflecting good business practice and representing an important internal control.

Remit and terms of reference:

The Sub-Committee on Finance is formally accountable to the CIPM, reporting to the CIPM on the adequacy and effectiveness of BIPM's long-term financial plan and the preparation of the Annual Financial Statements. The scope of the Sub-Committee is as follows:

  • To support the effective development and periodic review of the long-term financial plan to ensure the sustainability of the BIPM.
  • To advise on the most effective way to present and report the BIPM budget to stakeholders on an accrual accounting basis.
  • To provide due diligence on the preparation of the annual Financial Statements for approval by the CIPM.
  • To advise on the management processes to most effectively manage the BIPM's financial assets and investments.
  • To review external audits of the BIPM's independent auditors in order to satisfy CIPM that the internal controls and systems of risk management and reporting are robust, defensible and proportionate.
  • To review the associated financial data prepared by the BIPM staff.
  • To explore options to address the advances associated with the accumulated arrears in a way that will be acceptable to the Member States that made the advances and to the external auditors.
  • To report their recommendations on these two actions to the CIPM.

Chairperson:

  • Dr Philippe Richard

Members:

  • Dr Yuning Duan
  • Dr Wynand Louw
  • Dr Martin J.T. Milton  [BIPM Director]
  • Dr Philippe Richard
  • Dr Alan Steele  [ex officio member, Chair of the Pension Fund Advisory Board]
  • Dr Takashi Usuda

  CIPM: Upcoming meetings
17 March 2020: Meeting of the CIPM Task Group on the Digital SI
16–17 June 2020: 109th meeting of the CIPM - Session I
13–14 October 2020: 109th meeting of the CIPM - Session II

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