The World Council is pleased to announce the establishment of a Finance and Governance Sub-committee (FGC) to provide oversight in key areas on behalf of the Council, reporting back with recommendations. Specifically, the sub-committee will focus on :
- Finance / Audit – oversee the preparation of management accounts each quarter, presentation to WC, annual statutory filings and obligations, Monitor performance versus budget, review audit scope and findings.
- Internal Controls – internal control framework and processes including financial reporting, financial controls and conflicts of interest policy to ensure their integrity.
- Risk Management – establish risk register and investigation/remediation processes.
- Governance & Ethics– assess the operations in context of constitution, bylaws, WS and best practice for a not-for-profit sports organisation.
- Contracts – framework for oversight of contracts to include staff contracts and remuneration
- Other projects – To be defined, for example sponsorship matters or EM Nation program.
The committee will meet quarterly and comprise Mark Lyttle as President, Nick Page and three new volunteer colleagues, all of them being active ILCA sailors. The Council is pleased to welcome Daniel Sexton as incoming Treasurer. Daniel is a qualified accountant (CPA) with a background in financial audit currently working in sustainability assurance. Daniel will join the WC as a non-voting member and effect a handover of duties with Nick Page over the rest of 2026. Additionally, we welcome Pierre Figueras, who is an experienced project leader with a background in large contract negotiation. Pierre will join the FGC committee as a project leader. Finally, Chris Ellyatt joins as compliance and governance officer. Chris has extensive senior experience in regulated financial services across multiple jurisdictions. Chris will join the WC as a non-voting member.
Terms of reference for the FGC will be available shortly. We believe that the work of this group will contribute meaningfully to the continued success and long-term sustainability of the ILCA class.
Cover photo: Matteo Garrone – Peak Production.