Finance Development

IMAB is 100 % non-profit organization but need finance to execute its operation and deliver services as per laid standards and maintain it throughout the tenure. In order to ensure this objective, board charges fees to its existing members for respective service as well as prospective & interested potential members at the time of new registration. These charges differ from respective services to services.

The structure of the fee is based on regulation of accreditation body and subsequent expenses are fully governed by the board’s supervisory committee as per finance act section 10(a)(2). This structure is also designed in such a way that it takes care of administrative and social expenses incurred by the board.

Board is also authorized to carry out accreditation outside geographic scope of Singapore but bound to comply with accreditation regulations as per law of the land. Invoices issued to public or non-public organizations seeking accreditation are based on fee schedule standardize by the board.