IIA Annual Business Meeting Slated for July 9
The 68th Annual Business Meeting of The Institute of Internal Auditors will be held at 2 p.m. on Wednesday, July 9, at the Hilton Hotel in San Francisco, California. Matters to be addressed will include a proposed amendment the Bylaws (see below), the election of IIA officers and directors, and other appropriate items. All IIA members are invited to attend.Proposed Bylaws AmendmentA Global Finance Committee (GFC) was established four years ago to assist the Board and the Treasurer in providing more thorough oversight of the budget and financial policies and procedures of The IIA. It has been made up of the Treasurer and four board members appointed by the Chairman, two from outside North America and two from North America. The Chairman of the GFC is chosen from the four appointed board members. The responsibility of this committee has increased significantly since its establishment, and it has become increasingly difficult to find board members who are qualified, willing and able to give the committee the necessary time it needs for due diligence. This amendment proposes an additional position on the Board of Directors for the Chairman of the GFC, who will have no other responsibilities. Changes are underlined below. Resolution: That the following changes to the Bylaws be approved: Article IV Section 2. - Board of Directors -Composition a. 3 4 Ex-officio Directors who are the Chairmen of the Audit Committee, Global Finance Committee, Board of Regents, and Internal Auditing Standards Board. b. North American members will always comprise at least 40 percent of the total number of Board members, or 15 16 Directors, excluding the IIA President. Article IV Section 4 - Board of Directors - Quorum.At meetings of the Board of Directors, 25 26 members shall constitute a quorum.