In pursuance to Resolution EC-LI.2 adopted by the Executive Council at its 51st session (Paris, 3–6 July 2018), the open-ended Intersessional Financial Advisory Group (IFAG) is being re-constituted under the chairmanship of Vice-chair Ariel Troisi to provide guidance to the Executive Secretary on financial matters of the Commission and facilitate intersessional consultations on the review of governance, working methods and procedures of the Commission. Moreover, this intersessional period will also be an opportunity to provide advice on the preliminary proposals by the Secretariat for the 40 C/5 (2020–2021 budgetary exercise), as well as on the outline of the Draft IOC Medium-Term Strategy for 2022–2029 so as to prepare the examination of both items by the IOC Assembly at its 30th session in June 2019. The group will mainly work by correspondence after the issuance of IOC Circular Letter 2737. The group is composed of members from the following Member States: Belgium, Benin, Cameroon, China, Costa Rica, Denmark, Egypt, Germany, Ghana, Iran, Japan, Kenya, Norway, Portugal, Republic of Korea, Russian Federation, USA. The work of the IOC Intersessional Financial Advisory Group is carried forward by the sessional Financial Committee established when the Assembly or the Executive Council meets in plenary session. The resolution on the financial matters of the Commission reflects the conclusion of both intersessional group and sessional committee.

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