AIESEC

Global Compendium
Updated VLM IPM 2022

Updated by Governance and Legislation Subcommittee and

approved by AIVP Finance

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0. TABLE OF CONTENT

0. TABLE OF CONTENT 2

1. INTRODUCTION 4

1.1 Purpose of the Global Compendium 4

1.2 Name 4

1.3 Code of Ethics 4

1.4 AIESEC Way 10

2. MEMBERSHIP 13

2.1 Who can run AIESEC Operations 13

2.2 Definition of Membership 13

2.3 Membership Criteria and Timeline 17

2.4 Current membership status 19

2.5 War status and Domestic & civil unrest 19

2.6 Members causing harm 19

2.7 Removal of Membership 20

2.8 Growth Networks 21

2.9 Membership Subcommittee (MSC) 22

3. AIESEC PORTFOLIO MANAGEMENT 23

3.1 Official documents 23

3.2 AIESEC Portfolio Internal Policies 23

3.3 AIESEC Exchange Program Policies 23

4. FINANCIAL MANAGEMENT 25

4.1 Roles and responsibilities 25

4.2 Global Financial Model 32

4.3 Global Funds 37

5. GLOBAL DECISION MAKING 42

5.1 International Conferences 42

5.2 Global reporting 42

5.3 Motions 42

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 5.4 Mandates 43

5.5 Representation 43

5.6 Chair 43

5.7 Roll Call 44

5.8 Order of Precedence 44

5.9 Amendments 45

5.10 Conduct of Global Legislation 45

5.11 Voting 46

5.12 Proxy Voting 46

5.13 Minute taking 46

5.14 Extraordinary Global Legislations 46

5.15 Governance and Legislation Subcommittee (GLSC) 47

6. AI MANAGEMENT 48

6.1 General information about AIESEC International 53

6.2 AI Services 54

6.3 Role of the President (PAI) 63

6.4 Role of the Vice Presidents (AI VPs) 65

6.5 AI Financial management 66

6.6 Information Management 68

6.7 Information Management Subcommittee (IMSC) 69

6.8 Internal Audit 69

6.9 External Audit 71

6.10 Supervisory Group 71

6.11 Global Support Teams 75

6.12 Premium Partners Council (PPC) 75

6.13 Legal Subcommittee (LSC) 75

7. PIPELINE MANAGEMENT 77

7.1 AIESEC International 77

7.2 Global External Bodies 77

7.3 Global Subcommittees 78

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7.4 Internal Auditor 79

7.5 Supervisory Group 80

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1. INTRODUCTION

1.1 Purpose of the Global Compendium

1.1.1 The Global Compendium is AIESEC’s reference document.

1.1.2 This has been devised to guide and support all members in executing AIESEC’s activities in a manner
that is coherent with the organization’s vision and values.

1.2 Name

1.2.1 The name of the organization shall be AIESEC.

1.2.2 AIESEC is a global, independent, non-partisan, not-for-profit, youth-run organization.
1.2.2.1 Global: AIESEC is present in all parts of the world. We have a global network that strives to
make the world a better place through leadership development and peace while standing up for
fundamental human rights.
1.2.2.2 Non Partisan: AIESEC chooses peace above all and therefore does not have a pre-defined or
officially accepted political tendency or subscription.
1.2.2.3 Independent: AIESEC as a global network is not a subsidiary or an Entity that is dependent on
any other bodies in its work, sustainability or decision-making. As an organization we are free to set our own
goals and pursue them.
1.2.2.4 Not-For-Profit: AIESEC's main goal is to develop leadership for young people to have a
positive impact in the world. We use our resources sustainably to generate impact rather than making profit
for shareholders.
1.2.2.5 Youth-Run: AIESEC is completely run by youth for youth.
1.2.3 AIESEC does not discriminate on the basis of gender identity and/or expression, sexual orientation,
ability, creed, or religion, nor on the basis of national, ethnic, or social origin.

1.3 Code of Ethics

1.3.1 The principles of AIESEC’s Code of Ethics consist of overall adherence to integrity, excellence,
transparency, accountability, and respect for human dignity.
1.3.1.1 Independence
1.3.1.1.1 We shall always be able to act in a manner consistent with the AIESEC Way,
without limitation from external pressures. Our membership shall be involved in our major decision
making processes.

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 1.3.1.1.2 Political interferences - We aim to be politically independent: no partnership shall
commit us to a direct political agenda1. We will not allow any political movements to influence or
interfere with the partisan neutrality that is crucial to the nature of AIESEC.
1.3.1.1.3 Our governance, programs and policies shall be non-partisan, independent of
specific governments, political parties and the business sector. In addition, we will diversify our
sources of income so as not to become dependent on any source that could compromise the AIESEC
Way.
1.3.1.2 Partnerships & Ethical Fundraising
1.3.1.2.1 AIESEC seeks to partner with organizations that can assist us in developing
characteristics in individuals that we believe are critical in creating change agents. We seek to work
in genuine partnership with local communities, NGOs, companies and other organizations with
awareness of sustainable development responding to local needs.
1.3.1.2.2 We are partnering with all sectors (private, government, NGOs, etc.).
1.3.1.2.3 Partnerships should explore as many opportunities for stakeholder involvement
as possible.
1.3.1.2.4 All our partnerships have mutual benefit and they draw maximum out of it.
1.3.1.2.5 We shall not partner with organizations that directly promote war or violence.
We shall not partner with organizations that discriminate on the basis of race, colour, sex, sexual
orientation, creed, religion, and national or ethnic origin.
1.3.1.2.6 We shall not partner with organizations that negatively affect our image in the
external environment2. We recognize that organizational integrity extends to ensuring that our
partners also meet the highest standards of integrity and accountability, and will take all possible
steps to ensure that there are no links with organizations or persons involved in illegal or unethical
practices.
1.3.1.2.7 Partnership relationships should not affect our ability to act independently3. No
partnership should commit us to a direct political agenda4.
1.3.1.2.8 We expect our partners to
1.3.1.2.8.1 take into consideration the needs of the future generations;
1.3.1.2.8.2 be quality conscious;
1.3.1.2.8.3 be honest, legal, transparent and engaged in just (fair) activities;
1.3.1.2.8.4 have a focus on the development of their employees;
1.3.1.2.8.5 understand our nature and the AIESEC Way clearly.

1
Political agenda has been defined as supporting a political agenda in a Country or Territory. E.g. being involved in party politics etc.
2
For example companies engaged in the manufacture of tobacco and arms, as stated in AIESEC’s Global Compendium.
3
Independent: the ability to make our own decisions based on our aims and the AIESEC Way
4
Political agenda has been defined as supporting a political agenda in a Country or Territory. E.g. being involved in party politics etc.

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 1.3.1.2.9 Use of Donations - In raising funds, we will accurately describe our activities and
needs. Our policies and practices ensure that donations further our organization’s mission. Where
donations are made for a specific purpose, the donor’s request is honored. If we invite the general
public to donate to a specific cause, each organization will have a plan for handling any shortfall or
excess, and will make this known as part of its appeal.
1.3.1.2.10 Gifts in kind - Some donations may be given as goods or services. To retain our
effectiveness and independence, we will: record and publish details of all major institutional gifts
and gifts-in-kind; clearly describe the valuation and auditing methods used; and ensure that these
gifts contribute towards our mission.
1.3.1.3 Relations with our Stakeholders
1.3.1.3.1 Relations with National and Local committees - We consult actively with our
member and local committees in the development and implementation of policies and activities that
have an impact on them.
1.3.1.3.2 Relations within teams and committees - We treat each other with respect and
consideration. We communicate and consult with each other openly and collegially and in a manner
that assists each of us to fulfill our duties and responsibilities faithfully and efficiently. We
undertake to ensure adequate consultation with any member before making any decision, which
may impact upon that staff member.
1.3.1.3.3 Relations with external stakeholders - We commit to keeping our promises towards
our stakeholders keeping in mind our value of striving for excellence.
1.3.1.4 Equity & Diversity
1.3.1.4.1 We value, respect and encourage diversity, and seek to be impartial and
non-discriminatory in all our activities. To this end, each National committee will have policies that
promote diversity, gender equity and balance, impartiality and non-discrimination in all our
activities, both internal and external.
1.3.1.5 Transparency
1.3.1.5.1 We are committed to openness, transparency and honesty about ourselves. We
communicate actively to stakeholders about ourselves, and make relevant information publicly
available.
1.3.1.6 Confidentiality
1.3.1.6.1 We will treat information obtained while working with AIESEC with
confidentiality, when its nature calls for it or when it is explicitly requested, and will not use any such
information or materials to further a private interest. This obligation continues after separation
from AIESEC. We will be as open as possible about all decisions and actions we take, taking into
account the above-mentioned needs for confidentiality.
1.3.1.7 Good Governance & Professional Management

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 1.3.1.7.1 We manage our organizations in a professional and effective manner. Our policies
and procedures seek to promote excellence in all respects.
1.3.1.7.2 We shall be held responsible for our actions and achievements. We will do this by:
having a clear organizational structure and decision-making processes; acting in accordance with
stated values and agreed procedures; and reporting on these outcomes in an open and accurate
manner.
1.3.1.7.3 The governance structure of each AIESEC Entity will conform to relevant laws
and be transparent. We seek to follow principles of best practice in governance.
1.3.1.7.4 Each AIESEC Entity:
1.3.1.7.4.1 ensures that resources are used efficiently and appropriately, that
performance is measured, that financial integrity is assured and that public trust is
maintained;
1.3.1.7.4.2 has written procedures covering the appointment, responsibilities and
terms of members of the leadership team, and clear discharge mechanisms are in place;
1.3.1.7.4.3 is striving to have a supervisory body that gives input and advice, and
also monitors the activities and finances, using their professional experience for the growth
and development of the association.
1.3.1.8 Reporting
1.3.1.8.1 We report at least once a year on our activities and achievements. Each AIESEC
chapter, National or Local, is responsible for publishing the report and ensuring that it reaches its
stakeholders.
1.3.1.9 Legalities
1.3.1.9.1 AIESEC has or is in the process of getting legal status for the organization and for
the international internship program. We seek to comply with relevant governance, financial
accounting and reporting requirements in the Countries and Territories where we are based and
operate.
1.3.1.10 Audit
1.3.1.10.1 The annual financial report will conform to relevant laws and practices and be
audited by a qualified independent accountant whose statement will accompany the report.
1.3.1.11 Financial Controls
1.3.1.11.1 Internal financial control procedures ensure that all funds are effectively used
and minimize the risk of funds being misused. We shall follow principles of best practice in financial
management.
1.3.1.12 Evaluation
1.3.1.12.1 We seek continuously to improve our effectiveness. We have defined evaluation
procedures for our boards, staff, programs and projects on the basis of mutual accountability.

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 1.3.1.13 Human Resources
1.3.1.13.1 We recognize that our performance and success reflect the quality of our staff,
volunteers and management practices, and we are committed to investing in human resource
development. Remuneration and benefits should strike a balance between public expectations of
volunteer-based, not-for-profit organization and the need to attract and retain the talent we need
to fulfill our mission. Our human resources policies seek to conform fully to relevant international
and national labor regulations and apply the best voluntary sector practices in terms of employee
and volunteer rights, health and safety at work. Human resources policies will include procedures
for evaluating the performance of all staff on a regular basis.
1.3.1.14 Bribery & Corruption
1.3.1.14.1 Human resources policies will specifically prohibit acts of bribery or corruption
by staff or other persons working for, or on behalf of, the organization.
1.3.1.15 Respect for Human Dignity & Integrity
1.3.1.15.1 We condemn sexual exploitation, abuse and discrimination in all its forms. Our
policies shall respect human dignity and integrity in all our programs and activities, and prohibit
gender harassment, sexual exploitation and discrimination.
1.3.1.16 Usage of Whistle-Blowers
1.3.1.16.1 Members will be enabled and encouraged to draw management’s attention to
activities that may not comply with the law or our mission and commitments, including the
provisions in this Code.
1.3.1.17 Conflict of Interest
1.3.1.17.1 In our work, conflict may arise between our personal interests and the interests
of AIESEC or other stakeholders. We will disclose such conflict and resolve it in a transparent
manner.
1.3.1.18 Non-Preferential Treatment
1.3.1.18.1 We will consider only objective criteria when recruiting our members without
preference for family and friends; recruitment procedures will follow fairness principles.
1.3.1.19 Usage of Resources
1.3.1.19.1 We will use AIESEC resources and properties effectively, for no purpose other
than for the advancement of AIESEC’s objectives.
1.3.1.20 Private Activities
1.3.1.20.1 We will not engage in any activity or transactions or acquire any position or
function, whether paid or unpaid, that is incompatible with or detracts from the proper
performance of our duties, if that may negatively impact AIESEC’s image. We will not use AIESEC
business relationships to solicit or obtain favors or improper benefits in private life.
1.3.2 The role of the Ethics Subcommittee

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 1.3.2.1 The Global Ethics Subcommittee is the main responsible for the implementation of the code
of ethics and anti-sexual harassment and violence protocol in AIESEC. This includes: educational campaigns
to prevent breaches from happening, education for the National Ethics Subcommittee chair, work together
with MCPs and Ethics MC responsible to ensuring ethics processes implementation nationally, and solve
cases & provide recommendations to the Global Plenary regarding violation of the Code of Ethics.
1.3.3 Procedure for solving Ethical Issues
1.3.3.1 We must hold each other accountable to the observance of the Code of Ethics. When
Entities or individual members are not abiding by the Code of Ethics, it is the ethical duty of those aware of
the problem to report it.
1.3.3.2 If a problem (interpretation, application or suspected violation of the Code) occurs at Local
or National level, the following steps will be followed:
1.3.3.2.1 Find a solution within the Local/ National team through discussion and mutual
agreement. Each Local/National Committee should have an Ethics’ responsible and clear
procedures in place to solve issues occurred at Local/National level.
1.3.3.2.2 Cases of ethical misconduct which are opened nationally should be reported to
the global ESC directly at [email protected]. This should happen as soon as the case is opened.
Cases of ethical misconduct can be directly raised to the Global Ethics Subcommittee through the
"whistleblowing procedure", which consists of contacting the Ethics Subcommittee directly at
[email protected]. Global ESC will decide and communicate to the National ESC if the case can be
solved nationally.
1.3.3.3 The whistleblowing can also be filed by other AIESEC bodies, such as boards, other
subcommittees or AIESEC International.
1.3.3.4 Throughout the process it is essential to respect the principle of differentiating the
individual and the Entity and, therefore, if the action is unethical as opposed to the person/Entity being
unethical. Preserving the confidentiality of the whistle-blowers if specifically requested.
1.3.4 Special Provisions
1.3.4.1 The ESC will follow the most updated Ethics guidelines in compliance with the Code of
Ethics and the Global Compendium to solve the cases it receives.
1.3.4.2 A lost case is defined as a situation where: (A) The Entity is not collaborating with the ESC to
solve the case. An Entity not collaborating is understood as an Entity not responding to the ESC, not
implementing the agreed resolutions between the ESC and Entity in matter according to the Global
Compendium and Code of Ethics, or missing the deadlines agreed on by the Entity and the ESC. (B) The
Entity denies one or several ethical misconducts that are proven to have happened.
1.3.4.3 An Entity can request a case to be re-opened within 30 days following the date of the ESC
conclusions if, and only if, the Entity has additional evidence to submit that could change the conclusions of

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the case. The ESC will be responsible to assess and take into consideration the new evidence and share with
the parties involved the final conclusions of the case. This procedure can only happen once per case.
1.3.4.4 Any recommendations provided by the ESC must comply with the national law and/or
Compendium of the Entity/Entities involved. If, by any chance, the National Compendium contradicts the
Global Compendium, the Global Compendium shall be carried as the highest decision making guide.
1.3.4.5 We recognize that Expansion Countries and Territories present a unique reality in terms of
satisfying all the processes outlined in the Code of Ethics. Expansion Countries and Territories are granted
leniency in the elements of the Code relating to legality, effective program and governance systems, each of
which take time to implement. However, upon applying for full Entity membership, the leadership bodies
must prove that they have clear plans to ensure compliance with the Code of Ethics.
1.3.5 Implementation
1.3.5.1 Each Member Committee shall designate an individual who is responsible for the
compliance with the Code of Ethics. This person may be the same one as the ECB Entity responsible.

1.4 AIESEC Way

1.4.1 How AIESEC was founded: It all started after the Second World War when a group of young people
determined that cross-cultural understanding was essential to prevent similar conflicts and foster peace in
the world.
1.4.1.1 AIESEC was founded after the Second World War by a group of young people from Europe
(Belgium, Denmark, Finland, France, Netherlands, Norway, and Sweden). The political and social context of
the time shaped our fundamental principles. The perception of 'peace' has evolved. We now know peace
starts with people accepting, understanding, and embracing what makes us unique. We inhabit a world that
is interconnected, globalized, and technologically prolific. In such rapidly changing circumstances, we believe
that young people must learn to adapt quickly and solve a diverse, growing range of problems. That is why
AIESEC strives for Peace & Fulfillment of Humankind's Potential.
1.4.2 The why of AIESEC, our vision: We strive to achieve Peace and Fulfillment of Humankind’s Potential
1.4.2.1 In today’s context, ‘Peace’ does not only mean avoiding war. Peace can refer to a world
where no conflict arises from cultural, religious, or other differences in humanity. Peace can also refer to
being in harmony with yourself. AIESEC's aspiration is for every young person to work towards their
understanding of peace and take collaborative action towards fostering a better world. Through “Fulfillment
of Humankind’s Potential", AIESEC envisions a world where people continually become better versions of
themselves and empower others along the way.
1.4.3 Who does AIESEC serve: We engage and develop youth to create a better future for themselves, their
communities, and therefore, the world.

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 1.4.3.1 Getting young adults involved and developing them is essential. We believe that we as
young people have the responsibility to create a long-lasting, positive impact on our own lives, our
communities, and the world at large. We trust that we will drive and shape the future with our passion,
dynamism, and innovative spirit.
1.4.4 How does AIESEC achieve its vision, our mission: We believe leadership is the fundamental solution and it
can be developed in anyone, anywhere. We empower young people to become value-driven leaders who
positively impact the world around them.
1.4.4.1 AIESEC is a platform that strives to unlock the potential within humankind. We do that by
enabling young people to demonstrate and live by values based on AIESEC's leadership development model.
We believe that challenging experiences with AIESEC and leading with values in mind paves the way for a
positive impact.
1.4.5 Our unique Leadership Development Model:
1.4.5.1 AIESEC’s leadership development model seeks to prepare youth to take a stand on what
they care about and embody the AIESEC values for long-lasting impact. These values are as following :
1.4.5.1.1 Striving for Excellence: We continuously improve through creativity and
innovation. We strive to deliver the highest quality performance in everything we do. We live it by
encouraging each other to be better and appreciating each others' feedback.
1.4.5.1.2 Activating Leadership: We lead by example and inspire leadership through actions
and results. We take responsibility for developing the leadership of others. We live it by inspiring
others to be role models.
1.4.5.1.3 Demonstrating Integrity: We are consistent and transparent in our decisions and
actions. We fulfill our commitments and conduct ourselves in a way aligned with what we envision.
We live it by fulfilling our promises and communicating in an open way , our actions back up our
words.
1.4.5.1.4 Enjoying Participation: We celebrate and enjoy the way we are and what we
represent in society considering the role of youth in the world. We live it by putting a youthful
energy in everything we do.
1.1.5.1.5 Acting Sustainably: We act in a sustainable way for our society. Our decisions take
into account the needs of future generations. We live it by building on what has been done in the
past.
1.4.5.1.6 Living Diversity: We are consistent and transparent in our decisions and actions.
We fulfill our commitments and conduct ourselves in a way aligned with what we envision. We live
it by fulfilling our promises and communicating in an open way , our actions back up our words.
1.4.5.2 This is the leadership that we believe in and develop.

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1.4.6 What AIESEC does, what we offer: We enable young people to develop their leadership through learning
from practical experiences in challenging environments. We provide opportunities that seek to enhance
cross-cultural understanding, in collaboration with like-minded partners.
1.4.6.1 Our Impact: We create direct and positive impact in the world by developing leadership in
young people. We impact the world indirectly by designing cross-cultural opportunities that strive to
address society's challenges.
1.4.6.2 Cross-Cultural Understanding: Cross-cultural understanding encompasses an understanding
of different nations or territories, races, ethnicities, religions, as well as across different sectors and
segments of society.
1.4.6.3 Leadership Opportunities: AIESEC provides diverse opportunities such as exchange
opportunities, work experiences, volunteering, and other activities created for young people to develop
their leadership in unfamiliar environments.
1.4.6.4 AIESEC Membership: AIESEC members collaborate in teams to create, support and manage
these cross-cultural, practical experiences. This provides an opportunity for our members to live fulfilling
team experiences that activate their leadership potential.
1.4.6.5 Our Partners: We define our partners as an individual, corporation, institution, or
organization that shares our values, adheres to our ethics, and helps us amplify our impact.
1.4.7 Who we are, AIESEC description: AIESEC is a global, independent, non-partisan, not-for-profit,
youth-run organization.
1.4.7.1 Global: AIESEC is present in all parts of the world. We have a global network that strives to
make the world a better place through leadership development and peace while standing up for
fundamental human rights.
1.4.7.2 Non Partisan: AIESEC chooses peace above all and therefore does not have a pre-defined or
officially accepted political tendency or subscription.
1.4.7.3 Independent: AIESEC as a global network is not a subsidiary or an Entity that is dependent on
any other bodies in its work, sustainability or decision-making. As an organization we are free to set our own
goals and pursue them.
1.4.7.4 Not-For-Profit: AIESEC's main goal is to develop leadership for young people to have a
positive impact in the world. We use our resources sustainably to generate impact rather than making profit
for shareholders.
1.4.7.5 Youth-Run: AIESEC is completely run by youth for youth.
1.4.8 AIESEC does not discriminate on the basis of gender identity and/or expression, sexual orientation,
ability, creed, or religion, nor on the basis of national, ethnic, or social origin.

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2. MEMBERSHIP

2.1 Who can run AIESEC Operations

2.1.1 Full Members, Members in Alert, Entities in Debt and Expansions can run AIESEC activities.

2.2 Definition of Membership

2.2.1 Full Member (FM)

2.2.1.1 Full Member is an Entity that is fulfilling all membership criteria according to the Global
Compendium.
2.2.1.2 Full Members have the right to participate and vote during Global Legislation.
2.2.2 Member in Alert (MiA)
2.2.2.1 If a Full Member fails to fulfill membership requirements at the membership check, the
member will become a Member in Alert. The move from Full Member to Member in Alert is automatic on
July 1st and January 1st of each year.
2.2.2.2 For the detailed explanation of Member in Alert status, refer to Global Compendium
Supporting Document, Art. 2.2.
2.2.3 Entity in Debt (EiD)
2.2.3.1 An Entity that fails to settle balances payable to AIESEC International automatically
becomes Entity in Debt if all of the following requirements are met:
2.2.3.1.1 The Months of Financial Reserves of Entity (MC+LCs) are less than or equal to 3
months consecutively for 2 months during the periods of their respective ILM:
2.2.3.1.1.1 IC: April & May right before IC;
2.2.3.1.1.2 IPM: November & December right before IPM
2.2.3.1.1.3 Months of Financial Reserves are calculated based on Equity divided by
the Average Monthly Costs for the previous 12 months.
2.2.3.1.2 The Balance for EiD Debt Calculation is over 10% of the Exchange Revenue
criteria:
2.2.3.1.2.1 Exchange Revenue criteria is the Sum of Pricing multiplied by Approvals
of previous 12 months divided by 2 of each product.
2.2.3.1.2.2 Depending on which respective ILM the calculation will take place, the
previous 12 months period shall cover:
2.2.3.1.2.2.1 IC: June 1 to May 31 of previous year right before IC
2.2.3.1.2.2.2 IPM: January 1 to December 31 of previous year right before
IPM

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 2.2.3.1.3 The balance for EiD Debt Calculation will not include amounts from transactions
and balances related to Regional Fees and ICB Cases and other activities that involve Regional
Office and ICB operations. Transactions such as AI Fees, ILM Fees Settlements, Travel Cost Subsidy
Deductions, Global Partnerships and other transactions & agreements between AI and Entities will
be included in the Balance for EiD Calculation.
2.2.3.1.4 The calculation for EiD Criteria mentioned will be based on information from
EXPA and GFB Database, and to be identified by GFB. In case there is insufficient or questionable
data, GFB may request further information.
2.2.3.1.5 The Finance Subcommittee can approve exceptions from the Entity in Debt
Criteria under these scenarios:
2.2.3.1.5.1 An Entity will only be confirmed to be “Entity in Debt” on Day 0 of ILM if
and only if the Entity has shown enough proof of the insufficiency of funds to make the
payment other than the criteria. Exceptions discussions must involve AIESEC International
and GFB.
2.2.3.1.6 In cases where an Entity that proves to have sufficient funds fails to pay the AI
Membership Fee and/or balances payable to AIESEC International on Day 0 of the ILM, the Entity
must draft a payment plan on Day 0 of the ILM to be reviewed by GFB, then signed with the AIVPF
and the MCP. The maximum period of the payments should not exceed 20 days from Day 0 of ILM.
In case the MCP is absent, proxies will not be involved with the decision process and the discussion
will be done virtually during ILM days upon recommendations by GFB.
2.2.3.1.6.1 Entities with sufficient funds are those that can be identified as having
enough financial reserves for the Entity. This can be measured based on MoFR and/or
Financial Performance.
2.2.3.1.6.2 Possible scenarios of Entities with sufficient funds that fail to fulfill
their payment obligations by Day 0 of ILM are, but not limited to, late transfers issues,
international bank transfers connection issues, late arrival to the bank account, etc.
2.2.3.1.6.3 Entities that prove to have sufficient funds but fail to pay AIESEC
International by Day 0 of ILM, will be recognized as MiA upon recommendation by
Membership Subcommittee and a discussion with AIESEC International.
2.2.3.2 An Entity in Debt is a non-voting member in the Global Plenary.
2.2.3.3 Every Entity in Debt must secure a debt repayment contract signed by AIVP F, MCP and
MCVP, F stating the amount of installment payments and the periods of debt, on or before Day 0 of an ILM.
The discussions for the debt repayment plan will go through GFB before finalization with signatures, and will
be reviewed every June.
2.2.3.3.1 The debt repayment plan to be signed with AI will focus on the Balance for EiD
Debt Calculation as mentioned in article 2.2.3.1.

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2.2.3.4 For debt towards Regional Fees and Balances, the calculation criteria and payment plan
must refer to the Regional Compendium of the respective Growth Network, and must be in
agreement between the respective Regional Chair and Regional Office. If requested, GFB may
provide recommendations on debt repayment plan decisions. This debt will not be counted with the
identification of Entities in Debt as mentioned in 2.2.3.1.
2.2.3.5 In case an Entity has a balance payable to AI due to ICB Case Settlements, this Entity will be
considered as Member in Alert and not as an Entity in Debt.
2.2.3.6 The debt repayment plan must be reviewed by the Entity and GFB on every ILM, and be
renewed when needed.
2.2.3.7 An Entity in Debt that fails the agreed repayments with AI or has Entity in Debt status for 2
years, receives an automatic motion for disbandment during Global Legislations of ILMs.
2.2.3.8 For further explanations of Entity in Debt status refer to Global Compendium Art. 2.2.3 and
Global Compendium Supporting Document Art. 2.3.
2.2.3.9 The process & calculation of debt repayment plans will go as follows:
2.2.3.9.1 Repayment plans are calculated, negotiated and signed in June of each year and
can be reviewed within the timeline of an ILM if the Entity fails to settle their balance.
2.2.3.9.2 Out of the total balance of the Entity, the debt repayment plan will prioritize how
much can feasibly be paid within the upcoming 12 months. The prioritized amount to be paid will be
divided into quarterly installments. The excess of the balance will be prioritized for the next year
and/or will be subjected to a special debt repayment plan; however it needs to be taken into
consideration that the total debt should be cleared in 2 years.
2.2.3.9.3 The amount to be paid for the upcoming 12 months must be at least 20% of the
sum of projected MC Exchange Revenue, BD Revenue and Entity Affiliation Fee Revenue for the
upcoming year. The projected revenue is equal to the revenue from 1 term ago (Term X-1) multiplied
by the Global Average % change of the amounts from past 2 terms ago (Term X-2) to 1 term ago
(Term X-1) and it is to be considered that an Entity can be in debt for a maximum total of 2 years.
2.2.3.9.4 The prioritized amount will be divided into quarterly installments based on the
proportion of each quarter of the sum of projected MC Exchange Revenue, BD Revenue and Entity
Affiliation Fee Revenue for the upcoming year.
2.2.3.9.5 The data to be used for the projections will be taken from the historical Entity
data submitted through the GFB Surveys. In case an Entity failed to submit sufficient data, the total
balance will be assumed as payable within 12 months.
2.2.3.9.6 Extraordinary situations will be evaluated by FSC, AI and GFB.
2.2.3.10 Debt Risk Index and Categorisation
2.2.3.10.1 The debt risk index is used in order to categorize Entities in Debt based on the
risk they impose to the global plenary.

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 2.2.3.10.2 The index takes into consideration:
2.2.3.10.2.1 the probability to repay the debt which is captured with the following
indicators: % debt compared to equity, duration of debt, debt ratio and % repayment plan
fulfillment;
2.2.3.10.2.2 the impact it has on the global plenary that this Entity is a non paying
Entity captured in the following indicators: absolut debt, contribution to the global budget.
2.2.3.10.3 Based on the indicators the Entity will be assign an index risk score and divided
in the following categories:
2.2.3.10.3.1 Full Repayment: create a repayment plan (GFB) and include it in Entity
and budget planning, max. 2 years to pay back in quarterly installments, Index Score: 0-50.
2.2.3.10.3.2 Partial Repayment: the Entity could apply to get a part of the debt
written off if it fulfills a set of criteria, creates and follows a repayment plan, Index Score:
51-70 for one year.
2.2.3.10.3.3 Possible downgrade: part of the debt could get written off, create and
follow a repayment plan, increased accountability towards the global plenary (GFB),
maximum 2 years, Index Score: 71-90 for one year.
2.2.3.10.3.4 Possible disbandment: the financial and intangible assets or legal
situation does not allow you to generate revenue and the debt of the Entity imposes a big
risk on the global plenary, Index Score: 91-100 for one year.
2.2.3.10.4 Entities who are in the category of possible downgrade or disbandment will be
recommended by the FSC to the MSC and global plenary.
2.2.3.10.5 Entities who are in a category where write off is possible can apply to get part of
their debt written off. The FSC will review the eligibility and the global plenary will vote on the
decision.
2.2.3.10.5.1 The write off would be sustained by the provision for bad debt.
2.2.4 Expansion Initiative
2.2.4.1 An Expansion Initiative is the first stage of a new Country/Territory to become a member of
AIESEC. An Expansion Initiative is called a Country/Territory that is about to open AIESEC physically or
virtually, creating a business plan and/or finding investors.
2.2.5 Expansion
2.2.5.1 An Expansion is the second stage of a new Country/Territory to become a member of
AIESEC. An Expansion is a fully operating Entity in AIESEC that can run AIESEC ELD and EWA products.
Internal and/or external investors are supporting the Expansion in a number of different aspects, which are
governed by a contract between the Investors and the Expansion. Refer to Global Compendium supporting
document Art. 2.2. to see the explanation of getting and being an Investor.

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 2.2.5.2 For a detailed explanation of the Expansion status and steps towards becoming an
Expansion, being an Expansion and becoming a Full Member, refer to Global Compendium Supporting
Document Art. 2.2.
2.2.5.3 In case of changes or updates in the membership model of AIESEC, all Entities must be
submitted to a status match under the new model.
2.2.5.4 The Membership Subcommittee and the Regional Offices are responsible for defining the
equivalent of statuses.
2.2.6 Downgraded Entities
2.2.5.1 A downgraded Entity is an AIESEC Entity that is in a critical organizational state.This is
defined as having a critical level of resources in regards to finances, membership & internal operational
capacity compared to other members of the global plenary.
2.2.5.2 For a detailed explanation of the downgraded Entity minimums, refer to Art 3.2 of the
global compendium supporting documents.

2.3 Membership Criteria and Timeline

2.3.1 The membership criteria outline the minimum for Full Members to maintain their status, and for
Expansions, Members in Alert and Entities in Debt to gain full membership.
2.3.2 For the purposes of the following section, a “year” is the membership year and it is defined as January
1st to December 31st.
2.3.3 Membership Check is conducted twice per year, on July 1st and January 1st. The following criteria, if
fulfilled in the period between January 1st and June 30th, and between July 1st and December 31st, will
count towards regaining or sustaining membership as of July 1st or January 1st. MSC is required to give
feedback to all Entities within 2 weeks (14 days) from the date of the Early Bird Check. This is only available
to Entities that submit their documents until the Early Bird Deadline given by the MSC Chair responsible.
2.3.4 The criteria that need to be met by July 1st and January 1st to regain or sustain membership are:
2.3.4.1 Global responsibilities:
2.3.4.1.1 Pay all fees
2.3.4.1.2 Complete SOGA
2.3.4.1.3 Complete the Internal Audit survey
2.3.4.1.4 No debts
2.3.4.1.5 Confirm the AI balance
2.3.4.1.6 Complete GFB surveys
2.3.4.1.7 Have MCP / proxy at each ILM
2.3.4.2 Legal and Governance:
2.3.4.2.1 Unqualified external audit

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 2.3.4.2.2 Independent bank account
2.3.4.2.3 Legal status
2.3.4.2.4 Constitution and/or Compendium
2.3.4.2.5 External accountability body
2.3.4.2.6 VAT or equivalent tax declaration
2.3.4.2.7 Trademark
2.3.4.2.8 Growth Network membership
2.3.4.2.8 Ethics Subcommittee Chair
2.3.4.2.8 Whistleblower procedure for ethical cases
2.3.4.3 Exchange performance:
2.3.4.3.1 Realize on average two EPs and two opportunities per LC
2.3.4.3.2 Have no more than one (1) lost case with ICB per every one thousand (1.000)
exchanges realized during the period of the check
2.3.4.3.2.1 To be evaluated on IC for the months of January to June of the Current
Year.
2.3.4.3.2.2 To be evaluated On IPM for the months of July to December of
Previous year.
2.3.4.3.2.3 Entities that realized less than one thousand (1.000) exchanges in the
period evaluated, can lose a maximum of one ICB case.
2.3.4.3.3 In case of presenting misconducts such as but not limited to platform misusage,
faking exchanges, usage of EPs accounts, RE of lost accounts/EPs of previous terms, “hacking” the
platform, using AI/GST/Board/GC/RO access in favor/in disadvantage of an Entity, unreported
harassment cases, and any other misconduct that goes against the organization values and internal
regulations:
2.3.4.3.3.1 If in the period evaluated, the MC and/or ECB of National Entity
identified by its own internal resources, and reported willingly its findings and ways
forward - The report should be submitted for ICB & MSC Chair to evaluation. In case of
being detected the implementation of the steps provided in such a report, both Chairs
should issue a joint report with the Entity for the Global Plenary in the next ILM - And do
not implicate the count of “Lost exchange case”. The purpose of the report is education of
the plenary and accountability of the involved Entity in further ILMs.
2.3.4.3.3.2 For the case of misconducts in which the Entity identifies by itself, but
does not take disciplinary, resolutive and educational measures - And for cases detected by
ICB, AI, other Entities or third party, and reported to ICB: - In case of the Entity in question
not following up with ICB recommendations for misconduct internal sanctions and actions
to be implemented and/or being irresponsive or uncooperative, every exchange ID involved

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 should count as 1 (one) unique lost case. - A common report of the case should be
presented by the ICB Chair in the ILM, with its recommendations and total of sanctions for
the Entity, with prior revision of the MSC Chair.
2.3.4.3.3.3 In case of recidivism of misconducts as the previously mentioned, but
not limited to - by the same Member committee in the period of one year from its first
report to the global plenary, ICB should propose in the next ILM, for the Entity(ies) involved
actions to be taken on the upcoming semester to avoid the incidence of new cases. The
Entity(its) will also have to report in the next ILM their progress. The previous articles also
should be applied in addition.
ICB also can request updates from the Entity(ies) in the period between mandate
legislated & ILM of reporting ICB also should present a report of the Entity evolution in the
same ILM of report.
2.3.4.3.4 Have established ECB
2.3.5 Refer to Global Compendium Supporting Document, Art. 2.3 to see the detailed explanation of the
Membership Criteria.

2.4 Current membership status

2.4.1 Membership status is updated after every membership check. Refer to Global Compendium
Supporting Document, Art. 2.4. for the overview of all Entities.

2.5 War status and Domestic & civil unrest

2.5.1 War status is announced at any point in time, in case of a serious conflict in a territory where AIESEC is
located. Refer to Global Compendium Supporting Document Art. 2.5 for further explanation about this
status.

2.6 Members causing harm

2.6.1 In situations where an AIESEC Entity believes that the actions of a Member are causing harm to the
Association, the following resolution mechanisms may be used:
2.6.1.1 The concerned Member reports their concern to the Membership Subcommittee. The
Membership Subcommittee will form a recommendation as to whether this is a significant harm to be
addressed. In deciding whether the harm is significant and requires further action, the following principles
shall be taken into account:

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 2.6.1.1.1 Whether the action of a Member causes general harm to the Association as a
whole, or significant harm to at least one other Member.
2.6.1.1.2 That there have been efforts to resolve this matter between the involved Entities
prior to reporting it to the Membership Subcommittee.
2.6.1.1.3 That legislative means of resolving matters be a last resort, and that collaborative
discussion be encouraged.
2.6.1.2 If the Membership Subcommittee identifies the need for further actions, the Membership
Subcommittee will work with all the Entities and Legislative bodies involved in order to come to an
agreement, and propose any required mandate to ensure the resolution of the matter.
2.6.1.3 The Membership Subcommittee, with the involved parties, will track the progress towards
fulfilling the mandates, and report on the progress at each International Legislative Meeting.
2.6.1.4 If no adequate progress is made towards fulfilling any mandate, or a mandate is not
accepted, the Membership Subcommittee will consult all concerned Entities in forming a
recommendation as to whether a Member's membership status should be reviewed.

2.7 Removal of Membership

2.7.1 The Membership Subcommittee will review the situation of all Full Members, Members in Alert,
Entities in Debt and Expansions after the membership checks and make a statement to the Global Plenary
regarding removal of membership by Ordinary Global Legislations.
2.7.2 If a Member in Alert remains in its status for 3 consecutive years in a row, the Membership
Subcommittee shall automatically prepare a motion for the removal of Membership.
2.7.3 If an Entity in Debt remains in its status for 2 consecutive years in a row, the Membership
Subcommittee shall prepare an automatic motion for the removal of Membership.
2.7.3.1 If due to some unexpected reasons an Entity does not manage to pay the debt to AI but
would like to prolong it, such Entity needs to submit the following documents to the Membership
Subcommittee:
2.7.3.1.1 Have the proof from an authoritative body (e.g. company, BoA) that states in a
written form that the Entity is going to pay within 6 months.

2.7.3.1.2 Timeline of the repayment of the debt to AI.

2.7.4 If a Expansion remains in its status for 3 consecutive ILMs in a row, the Membership Subcommittee
shall automatically prepare a motion for the removal of Membership.
2.7.5 The Legal Subcommittee is responsible for the post-disbandment process of a Member by acting
through ICB:

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 2.7.5.1 The disbanded Entity is obliged to execute the following tasks before the next ILM (within a
time frame of 6 months):
2.7.5.1.1 Gradually stop the exchange activities in the Entity (including no new raising of
Exchanges, and restricting the approval status to where it is seen as necessary);
2.7.5.1.2 De-registration as a legal Entity;
2.7.5.1.3 Closing of all bank account(s);
2.7.5.1.4 Explanation to the stakeholders of why all activities will be stopped:
Opportunity takers / Partners
Board of Advisors / Board of Directors
Universities involved
EPs involved
Alumni
2.7.5.2 The Legal Subcommittee sends a progress report to the ICB before the first ILM after the
disbandment has taken place.
2.7.5.3 An Entity visit to the disbanded Entity may take place up to one year after the date of
disbandment, based on the recommendation of the Legal Subcommittee together with AIESEC
International. The recommendation shall be made considering the risks that the disbanded Entity still poses
to the organization and the feasibility of a visit taking place. The Legal Subcommittee, together with AIESEC
International, is responsible for appointing which person will conduct the visit. The person may be a
representative of AIESEC International, Regional Office or any other party deemed suitable.
2.7.5.4 The Legal Subcommittee is obliged to present a report to the global plenary on the ILM
within 1 year after the disbandment has taken place. This document should indicate whether the disbanded
Entity has fulfilled the tasks it is obliged to perform in the first six months of the post-disbandment process.
2.7.5.5 A Country or Territory with a closed Entity shall remain without AIESEC physical presence
for at least 2 years counting from the day of the disbandment

2.8 Growth Networks

2.8.1 All Members shall be members of 1 or more of the following Growth Networks (GNs):
Americas - AM GN
Asia Pacific - AP GN
Europe - EUR GN
Middle East and Africa - MEA GN
2.8.2 Changes within the membership of each Growth Network shall be approved at any ILM by the Plenary
of the relevant Growth Network.

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2.8.3 Each Growth Network must have a Growth Network Compendium, aligned with the Global
Compendium, serving to coordinate the operations and activities of the Members of that Growth Network.
The Growth Network Compendium must contain Growth Network Membership Criteria applicable to the
respective Growth Network.
2.8.4 Changes in the structure of how Members are grouped at a global level should be approved by the
Global Plenary.

2.9 Membership Subcommittee (MSC)

2.9.1 The Membership Subcommittee is responsible for managing the global membership criteria and
application, as well as of the review process of Entity membership.
2.9.2 See the detailed Job description and role of the Membership Subcommittee in Global Compendium
Supporting Document Art. 2.6.

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3. AIESEC PORTFOLIO MANAGEMENT

3.1 Official documents

3.1.1 There are two official documents related to the AIESEC Portfolio and delivery of the exchange
programs:
3.1.1.1 AIESEC Portfolio Internal Policies
3.1.1.2 AIESEC Exchange Program Policies

3.2 AIESEC Portfolio Internal Policies

3.2.1 The AIESEC Portfolio Internal Policies (APIP) is the official document that governs and defines the
minimums, responsibilities, procedures, and protocols for every phase of the AIESEC portfolio.
3.2.2 The document has the following objectives:
3.2.2.1 For AIESECers to understand the minimums of each experience and initiative inside the
AIESEC portfolio;
3.2.2.2 For AIESECers to understand their role and responsibilities when it comes to the
preparation and execution of each phase and experience inside the AIESEC portfolio;
3.2.2.3 For ICB to govern and ensure compliance to the AIESEC Internal Portfolio Policies.
3.2.3 All information regarding the governance system and policies can be found in this document and its
annexes.

3.3 AIESEC Exchange Program Policies

3.3.1 The AIESEC Exchange Program Policies (AEPP) is the official document that defines the rights, roles,
obligations, responsibilities, procedures and protocols for every stakeholder participating in an exchange in
any of the AIESEC (“AIESEC”, “us” or “our”) programs: Global Talent (GTa), Global Teacher (GTe) and Global
Volunteer (GV).
3.3.2 These policies have the following objectives:
3.3.2.1 For Exchange Participants (EPs) and OPs to understand and acknowledge their rights,
obligations, and responsibilities before, during and after the AIESEC Exchange;
3.3.2.2 For EPs and OPs to understand and acknowledge what to expect from an AIESEC Exchange
experience, as well as the roles and responsibilities of the stakeholders involved;
3.3.2.3 For EPs and OPs to understand and acknowledge the consequences of violating the AEPP,
as well as the procedure to be followed when a stakeholder does not comply with the AEPP.

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3.3.3 This document is binding for every EP, OP, AIESEC Entity and any other party involved with an AIESEC
Exchange at all stages, from contract signature until after the end of the exchange.

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4. FINANCIAL MANAGEMENT

4.1 Roles and responsibilities

4.1.1 Finance Team in AI

4.1.1.1 Description and Role
4.1.1.1.1 The Finance Team sets the strategic direction in terms of finance and legal for the
Global Plenary and Global Network.
4.1.1.2 Responsibilities
4.1.1.2.1 Financial Management of AI Budget, Global Funds and AI restricted funds;
4.1.1.2.2 Report to the Global Plenary;
4.1.1.2.3 See Section 7 of the International Compendium.
4.1.2 Finance Subcommittee
4.1.2.1 Description and Role
4.1.2.1.1 The Finance Subcommittee acts as the main touchpoint between AIESEC
International and the Global Plenary.
4.1.2.1.1 The Finance Subcommittee provides reviews and recommendations in the
decision making to the Global Plenary on matters related to global finances.
4.1.2.2 Responsibilities
4.1.2.2.1 Report to the Global Plenary
4.1.2.2.1.1 The Finance Subcommittee ensures the Global Plenary has access to
proper financial reporting of AIESEC International to effectively make decisions.
4.1.2.2.1.2 The Finance Subcommittee reports, gives recommendations, and
proposes motions, when applicable, at every ILM within Legislative Fairs and/or before
each ILM in written format.
4.1.2.2.1.3 The Finance Subcommittee reports twenty (20) days before Day 0 of
ILM. The report must contain the following:
AIESEC International budget
Members contribution to budget
Financing of Global Funds
Entity(ies)/AI debt write-offs
Entity(ies) in Debt
FSC cases resolution
Budgetary changes unrelated to plenary financial contributions
4.1.2.2.2 Entity Case Solving
4.1.2.2.2.1 Description

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 4.1.2.2.2.1.1 FSC acts as a case solving support body based on the
authority granted in the International Compendium & Global Compendium
Supporting Document, on behalf of the Global Plenary, in relation to financial
matters and exemptions, such as Travel Cost Sharing and Currency Restrictions, as
outlined in Global Compendium Supporting Document at Article 4.1.2.
4.1.2.2.2.1.2 FSC does not take any cases on currency depreciation.
4.1.2.2.2.2 Submitting cases
4.1.2.2.2.2.1 A valid case is submitted in written form to both the FSC
Chair and AI VP F quoting the compendium clause(s) and any associated
documents as stated in compendium segments.
4.1.2.2.2.2.2 Cases related to ILMs must be submitted 7 calendar days
before Day 0, or can be automatically rejected by the FSC Chair.
4.1.2.2.2.2.3 FSC Chair has 3 working days from the submission to accept
the case, reject the case, or request additional documentation.
4.1.2.2.2.2.4 Any case rejection must be accompanied by a valid
explanation in written form.
4.1.2.2.2.3 Case solving
4.1.2.2.2.3.1 Cases must be solved within 14 days from the submission, or
according to the timeline accepted in a written format by the FSC and the Entity
that submitted the case.
4.1.2.2.2.3.2 Cases are solved in the jurisdiction of the International
Compendium and supporting documents.
4.1.2.2.2.3.3 Cases are reviewed by statutes within the International
Compendium and supporting documents, and based on the evidence provided by
the required and requested supporting documents.
4.1.2.2.2.3.4 Cases are solved according to AIESEC values with the
financial health and well-being of the Global Plenary being the primary focus.
4.1.2.2.2.4 Voting
4.1.2.2.2.4.1 Cases are solved with simple majority within FSC members
to determine the case outcome, with FSC chair withholding vote.
4.1.2.2.2.4.2 Tie breaking: FSC Chair casts tie breaking vote.
4.1.2.2.2.4.3 Quorum: FSC can only vote on matters in which 2/3 of the
FSC members are present.
4.1.2.2.2.5 Reporting
4.1.2.2.2.5.1 Cases are reported to the Global Plenary in each ILM.
4.1.2.2.2.5.2 Case reporting contains:

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 Case topic and compendium point(s);
Case solution;
Explanation of the case solution and reason(s);
Any impact to the Global Plenary.
4.1.2.2.2.5.3 Case parties are taken as confidential unless the following
are involved:
Breach of AIESEC values or ethics
Cases involving other SCs or External Bodies
Global finance
4.1.2.2.2.6 Exclusions
4.1.2.2.2.6.1 FSC will not accept any case that falls out of its jurisdiction as
based on the Global Compendium.
4.1.2.2.2.6.2 Any case that affects the overall change in global
membership is recommended and given for vote to the Global Plenary.
4.1.2.2.3 Support and manage Entities in Debt
4.1.2.2.3.1 Management and resolutions
4.1.2.2.2.1.1 The Finance Subcommittee has the right to request financial
reports on the updated quarterly Entity progress.
4.1.2.2.2.1.2 The Finance Subcommittee gives a briefing of all Entity in
Debt repayment progress before every ILM.
4.1.2.2.3.2 Reporting
4.1.2.2.3.2.1 Finance Subcommittee compiles a report on the current state
of every Entity in Debt & Members in Alert with Debt every ILM which includes,
but is not limited to, the following items:
Debt obligations both internally (between MC & LCs of the Entity) and
externally (from partners, other Entities and other stakeholders);
Fulfillment of debt repayment plans for AI Membership Fees & Balances
and/or Regional Fees & Balances;
Financial State for at least the past 12 months;
Exchange Performance state for at least the past 12 months.
4.1.2.2.3.2.2 FSC will provide a timeline & process for collecting
information needed from these Entities for the creation of the report. FSC may
request support for the information needed from AI & GFB.
4.1.2.2.3.2.3 This report is to be presented by each Entity during the ILM.
FSC will act as the moderator of the report and the presentation of the Entities.

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 4.1.2.2.3.2.4 The Finance Subcommittee gives recommendations to the
Global Plenary on the continued state of “Entities in Debt” such as, but not limited
to:
Continuation of Entity in Debt status, rights, and obligations in case of
automatic motions;
Disbandment of the Entity in Debt in both proposed and automatic
motions.
4.1.2.2.4 AIESEC International Budget and changes
4.1.2.2.4.1 The Finance Subcommittee recommends and submits a motion of
approval of the next term’s AI Budget to the Global Plenary in the current term’s last ILM.
4.1.2.2.4.2 If Corporate Partnership Revenue is exceeded before the end of the
financial year, the Finance Subcommittee confirms an addition to the budget lines or
global/AI funds before the end of the term year, as recommended by the AIESEC
International Management Team.
4.1.2.2.4.3 If Corporate Partnership Revenue is exceeded at the end of the year or
expenses are lower than budgeted, the Finance Subcommittee confirms additions to the
budget lines or global/AI funds, as recommended by the AIESEC International Management
Team.
4.1.2.2.4.4 The Finance Subcommittee approves any fundraising allocation to
budget lines that is over 10% of the total approved budget.
4.1.3 Global Finance Board (GFB)
4.1.3.1 Description and Role
4.1.3.1.1 The Global Finance Board acts as the main touchpoint between AIESEC
International and the Global Finance Network (consisting of National and Local finance offices).
4.1.3.1.2 It shall exist as an independent global body established to see the sustainability of
the global network, by supporting activities for affiliated Entities in matters related to financial and
legal management.
4.1.3.2 Responsibilities
4.1.3.2.1 Provide Entity consultancy in matters related to financial and legal management
and long term sustainability of the organization;

4.1.3.2.2 Undertake ad hoc audit and support engagements upon request from AIESEC
International or Global plenary. The audit can be conducted in cooperation with other independent
bodies;

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 4.1.3.2.3 Knowledge management of financial and legal documentation and learning
resources; GFB should get all support necessary from AIESEC International;
4.1.3.2.4 Collect, analyze, and report on the Global Entity financial and legal state to all
AIESEC Entities and AIESEC International;
4.1.3.2.5 Conduct the internal audit process on Entities that present the highest amount of
risk. The risk calculation is based on the criteria the GFB sets and announced in a separate formal
communication before the selection of the Entities based on the GFB audit timeline;
4.1.3.2.6 GFB is the main responsible to coordinate EFBs; this is by providing the Entity
body with the necessary resources, guidelines and education for the EFB to fulfill its role in the
Entities;
4.1.3.2.7 GFB supports EFBs to establish and perform audits at the Local and National
levels following the AIESEC Financial Procedures Manual.
4.1.3.3 Global Reporting and GFB Survey
4.1.3.3.1 GFB will release a monthly survey on the last day of each calendar month and an
additional Survey for Internal Audit Process (Internal audit inquiries, Internal audit requests) on the
last day of each calendar quarter.
4.1.3.3.2 Entities shall use the reporting frame provided by the GFB. The frame must
include at least the balance sheet and profit and loss statement of MC and all LCs.
4.1.3.3.3 AIESEC Entities shall fill GFB survey according to Minimum Membership Criteria
(MMC) within 14 days after its release for the reporting of the previous calendar month.
4.1.3.3.4 After the deadline for the Entities to fill in the survey, GFB shall release a monthly
Entity report based on GFB survey results on the following 20th day of the month.
4.1.3.3.5 GFB shall release the Global Report and Regional Report based on the GFB
survey results of the term to be presented at IPM and IC.
4.1.3.3.6 In case a member is not able to comply with the GFB Survey submissions on time
due to legal & external reasons, the Entity can appeal for an exception/extension or special
alignment in order to deliver the corresponding survey/s. This request shall be reviewed by GFB
thoroughly in all aspects.
4.1.3.3.7 Access to information:
4.1.3.3.7.1 Within limitations of data sensitivity and data confidentiality
considerations, the GFB shall have access to all global data necessary for the execution of
its mission, including:
4.1.3.3.7.1.1 Global membership criteria documentation, submissions, and
reports;
4.1.3.3.7.1.2 Internal Audit survey responses;
4.1.3.3.7.1.3 SOGA responses;

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 4.1.3.3.7.1.4 AI financial statements;
4.1.3.3.7.1.5 Entities financial and legal documents;
4.1.3.3.7.1.6 Attendance at ILMs with speaking rights.
4.1.3.3.7.2 The Entities selected for the audit process must allow the GFB the
access to the information that will allow them to conduct the audit process in the most
efficient and effective manner possible. The access must be granted within 15 days of the
official audit request being sent through the GFB email or the responsible for the internal
audit.
4.1.3.3.7.2.1 Access to relational and non relational databases: relational and
non relational databases concern data that are related to the financial function and
sources of information that allow us to recognize financial information;
4.1.3.3.7.2.2 Access to non financial information: access to undisclosed
events or information that may be important to the ongoing concern of the Entity.
This non financial information can be related to the internal environment or
external environment;
4.1.3.3.7.2.3 Access to internal controls: access to information related to
internal controls and compensating internal controls and ability to conduct
procedures related to investigating internal controls such as inquiries with the
Entities management;
4.1.3.3.7.2.4 Access to third parties confirmations: access to contacts of third
parties involved in specific transactions or events identified and possibility to
inquire about balances or information through them; this does not mean the Entity
needs to guarantee that the third parties respond but it means that the Entities will
undertake the necessary actions in order to maximize the possibility of getting
replies regarding such matters.
4.1.3.4 GFB Internal Audit
4.1.3.4.1 GFB will conduct an inquiry of internal controls at each beginning of the quarter
to evaluate the state of internal controls within the Entities, GFB will conduct this inquiry through
an internal controls survey for the matter, that’s released simultaneously with the GFB survey for
the month.
4.1.3.4.2 GFB will assess the risk levels of the Entities through specific criteria set
depending on the global context and the objectives sought after from the internal auditing, these
criteria will be communicated to the Entities before the selection of the Entities.
4.1.3.4.3 GFB will send a formal request to the Entity that has been selected for audit, this
request contains the reason for the selection and the list of information and call to actions required
in order to conduct the audit in an efficient and effective manner.

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 4.1.3.4.4 The Entities must reply in writing to the GFB audit request about the acceptance
of the process and provide the necessary information and support to conduct the audit; acceptance
must be in a time frame of 72 hours of the audit request.
4.1.3.4.5 If Entities fail to reply to the audit request, GFB will disclose this information to
the global plenary.
4.1.3.4.6 GFB will conduct the audit based on an audit strategy discussed with the Entity
which will contain the scope of the audit and the different processes that will be present through
the audit process.
4.1.3.4.7 GFB audit timeline is composed of the following phases:
4.1.3.4.7.1 Planning and risk identification: GFB does an evaluation of risks that
Entities undergo according to the global context and selects the Entities to undergo the
audit. This phase starts at the beginning of the calendar year (January) and is concluded by
the end of the first quarter (March).
4.1.3.4.7.2 Strategy risk assessment and execution: GFB determines the scope of the
audit of the Entities selected to be audited based on a risk assessment method developed
by the audit responsible and elaborates a strategy communicated to the Entity in a written
format which the Entity takes into account to prepare the materials necessary for the
execution of the audit. This phase starts by the time the Entities selected have received
formal audit requests and ends by the latest the first month of the third quarter.
4.1.3.4.7.3 Reporting and conclusions: The GFB reports to the Entities the findings
about audit after the end of the execution period by the latest one month after the
execution is done. The GFB also updates its priorities and global risks in an evaluation and
conclusions during a period that lasts one month after the GFB has sent the reports to the
Entities audited.
4.1.3.4.7.4 Audit quarters are consider taking into account the Calendar Year: Quarter
1, composed of January, February and March; Quarter 2, composed of April, May and June;
Quarter 3, composed of July, August and September; and finally Quarter 4, composed of
October, November and December.
4.1.3.4.8 GFB will release a report after the audit stating its findings and conclusions along
with recommendations to the Entity and will monitor the implementation of the changes.
4.1.3.4.9 The findings can be related to the financial state, governance and risks. In case the
findings turn out to be due to voluntary or involuntary altering of information or assets in their
physical or non physical substance) the Entity presents itself to these sanctions:
4.1.3.4.9.1 In case of a confirmed omission, the Entity must recognize the
information necessary and disclose it in their financial statements, it is important for the
Entity to also recognize potential liabilities or receivables generated through this fact.

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 4.1.3.4.9.2 In case the Entity refuses to adjust the necessary information, the
omission will be considered voluntary and it becomes a case of fraud.
4.1.3.4.9.3 In cases of fraud the Entity must disclose the information to the global
plenary.
4.1.3.4.9.4 In case of undisclosed information or altered information, the Entity
must pay the avoided costs to the party that was affected by the prejudice, ex: AI FEE
underestimated.
4.1.3.5 Entity Finance Board (EFB)
4.1.3.5.1 The Entity Finance Board (EFB) is an Entity board to support the Member
Committees in the institutionalization of the financial processes and training more and better
Financiers across the Global Network.
4.1.3.5.2 EFB is responsible for the consistency, accuracy, transparency, completeness,
accountability & efficiency of the Financial Processes in the Entities.
4.1.3.5.3 EFB should ensure the transparency of the financial data by supporting the
Entity’s data collection processes and conducting audits to verify the accuracy of it, following the
AIESEC Financial Procedures Manual.
4.1.3.5.4 EFB should allow separation of priorities between EFB & Member Committees,
being EFB the one who supports the Local Committees thru Financial Processes and Member
Committees who focus on Strategies & Sustainability.
4.1.3.5.5 EFB is an independent board, working directly with its Member Committees,
Local Committees, and with the guidance of the Global Finance Board.

4.2 Global Financial Model

4.2.1 Budget
4.2.1.1 Definitions
4.2.1.1.1 The global budget shall be based on the performance and development of the
whole organization and therefore grow according to the set indicators.
4.2.1.1.2 Profits simultaneously fill budgets and global investment funds to ensure
investments in long-term growth.
4.2.1.1.3 Through clear terms and relevance of cost centers enable return on investment
analysis, therefore smarter investment decisions can be made for the future.
4.2.1.1.4 The global funds are there to enable fast response to innovation and stakeholder
needs.

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 4.2.1.1.5 The budget reflects the shared accountability of AI and the network towards the
fulfillment of the global services and achievement of the global plan.
4.2.1.1.6 The Budget needs to include a provision for bad debt as risk prevention for the
plenary.
4.2.1.1.7 The Budget needs to include a provision for doubtful debt.
4.2.1.1.7.1 The total amount of the provision is decided by the Global Plenary
every IPM.
4.2.1.1.7.2 The provision will be used to cover the debt of Entities who have been
disbanded by the global plenary. If the total debt is larger than the provision the difference
will be charged to the global plenary under the distribution model in the next invoicing
period.
4.2.1.1.7.3 The provisions can also be used to cover debt of Entities who have
been granted a write off.
4.2.1.1.7.3.1 The FSC and AI Management Team decide on the Write off
allocation as follows:
- application launch: application launch by FSC in support of the MSC
aligned with the membership check timeline. Responsible bodies:FSC
- application: The Entity applies and states the amount they want to write
off with reasoning; state if they will pay their repayment installment aligned with
the contract signed with AI and GFB (if applicable). Responsible bodies: Entity
(aligned with FSC)
- data / criteria calculation: GFB prepares calculations whether the Entity
is eligible for a write off based on the outlined criteria. Responsible bodies: GFB
- decision and reporting: at the next ILM legislation the FSC reports on the
Entities who have applied for write offs outlining which application have been
approved and the reasoning behind it.
4.2.1.1.7.3.2 The criteria to be edible for write offs is stated as follows:
- Holding Entity in Debt status
- *Global Membership Criteria Fulfillment: The Entity should fulfill
membership criteria apart from the criteria of no debt towards AI and regional
membership.
- *Debt Repayment Contracts:**Entity signed a repayment contract with
AI and followed it for 4 consecutive quarters or since it became Entity in debt
- Debt Ratio: The Entities debt ratio should be minimum 2.
- AI debt % to total liabilities: AI debt should represent a minimum 50%
total liabilities (debts)

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 - No write off in 5 years*: Entity has not received a write off in the previous
5 years / the Entity has not become an entity in debt for 5 years after receiving a
write off.

*These criteria should be evaluated for its possibility to be fulfilled in 2

cases: (1) Force Major Events (External events out of control, such as war, natural
disaster for example); (2) Government Policies restricting NGO operations
(New/modified laws in place restricts AIESEC to perform its operations inside that
territory; however still allows them to legally exist).
4.2.1.2 Global Partnership Revenues
4.2.1.2.1 These represent the full amount of revenue generated by AIESEC International
through global sales activity.
4.2.1.2.2 This revenue shall contribute to 100% of the costs of the Global Services related
to Global Partnership Management and Sales.
4.2.1.2.3 This revenue may subsidize the costs of other Global Services if the plenary is not
able to fully contribute to them. The amount of subsidy will be legislated with the global budget by
the Global Plenary.
4.2.1.2.4 The amount to be raised through global sales and partnership activities shall be
legislated by the Global Plenary during IPM and can be adjusted at IC.
4.2.1.2.5 In case the global partnership revenue exceeds the legislated amount or expenses
are lower than planned, AI will suggest an allocation of the additional revenue to budget lines or
funds based on the AI plan. These suggestions are depending on the approval of the Finance
Subcommittee.
4.2.1.2.6 The AI VP BD will have to report to the Finance Subcommittee on quarterly basis
about the sales plan, realized revenue and usage of the global sales market.
4.2.1.2.7 The Management team of AI has the final decision of the level of operational and
strategic reserves required.
4.2.2 Global fees in AIESEC
4.2.2.1 The Global Financial Model represents the entirety of all Entities and enables us to use our
collective resources to achieve peace and fulfillment of humankind’s potential.
4.2.2.2 Reflecting needs: The model shall enable the global office to respond to the needs of the
network, defined in the Section 7 “AI Services” and the global plan in the best way for the organization's
progress.
4.2.2.3 Synergy: It aims to create synergies in the network that best facilitate growth and empower
us to work as one organization.

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 4.2.2.4 Sustainability: Our business models are self-sustainable by creating value and thus
generating revenue we need in order to scale up our operations according to our ambition.
4.2.2.5 Global Service Fee/ Affiliation Fee
4.2.2.5.1 Refer to Global Compendium Supporting Document Art. 4.1. for a detailed
explanation of the Membership Fee.
4.2.2.5.2 These are the full amount of the services in the global budget paid by Members in
return for services provided by AIESEC International.
4.2.2.5.3 For each Global Service (as explained in Section 6 of the Global Compendium – AI
Management), members will contribute to the total cost. This contribution can be subsidized
through partner revenue of the global business development activities.The goal is that the plenary is
able to fully fund the global services without subsidies.
4.2.2.5.4 The amount to be paid shall be legislated by the Global Plenary during IPM.
4.2.2.5.5 Global Service Fees are to be paid twice every year, half of the fee to be paid
before IC and half before IPM.
4.2.2.5.6 The Global Service Fees shall be calculated according to the model explained in
the Global Compendium Supporting Document.
4.2.2.5.7 If a Member or group of Members have been mandated to provide an approved
service, the service fees will be paid to them.
4.2.2.5.8 Future services can be pre-approved to be included in service fees.
4.2.2.6 Other information relating to Membership Fees
4.2.2.6.1 Adjustment of fees for new Members
4.2.2.6.1.1 If applying at IC and accepted, the Full Member will pay half of all
affiliation and global service fees owed for that financial period. E.g. The affiliation and
global service fees would be re-calculated to include this Member as half the Member, as
they will only use the services for half the year. The fee is payable before the 2nd day of IPM
(of the year following the IC they became a Full Member) with the second global service fee
invoice.
4.2.2.6.1.2 If applying at IPM, and accepted, the Full Member will start paying
normal affiliation and global service fees in the first invoice sent in July (of the same year
they become a Full Member) by the 2nd day of IC.
4.2.2.6.2 Adjustment of fees for changes in number of LCs
4.2.2.6.2.1 Changes in a Member’s list of LCs can be made through a request to
AIESEC International. The affiliation fees of members will be calculated based on the
number of LC`s defined on the 31st of January.
4.2.2.6.2.2 If a Member opens additional LCs before 31st of July, they will:

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 Pay an additional amount equivalent to half of the “price per LC” for the
number of LCs opened. This fee will be contributed to the GIS Fund, and
earmarked as an opening balance for the GIS Global Service fee for the
following year’s fees.
If a Member closes LCs at IC, no change will be made to the annual
Member fees previously calculated and legislated at IPM.
4.2.2.6.3 Invoicing arrangements
4.2.2.6.3.1 AI shall send out statements of accounts to all Members before any fee
invoice and upon request of a Member.
4.2.2.6.3.2 The payments of any invoice shall be made within 30 days.
4.2.2.7 Regional Fees
4.2.2.7.1 Refer to the regional compendium of the respective growth network for a
detailed explanation of management and calculation of the regional fee.
4.2.2.7.2 All regional fees and regional balances are collected by the global office and
invoiced together with the AI Invoice and are displayed accordingly as a separate section in the
invoice.
4.2.2.7.3 The Calculated Balance to be displayed in the AI Invoice must show the
breakdown for Balance towards AI and Balance towards Regional Office.
4.2.2.8 Entities in Debt
4.2.2.8.1 All details involved with Entities in Debts Status, Payments and Involvement with
Invoices, please refer to Entity in Debt chapter of the Global Compendium Document Art. 2.2.3.
4.2.2.8.2 An Entity in Debt no longer pays Membership fees until their debt is cleared with
AI and the due date written in the debt repayment plan of the last installment has passed.
4.2.2.8.2.1 The debt involved would be the Balance for EiD Debt Calculation as
mentioned in 2.2.3.1.3.
4.2.2.8.2.2 Entities in Debt will not be included in the calculation of invoices as
reflected upon the global distribution model.
4.2.2.8.2.2.1 For Entities that are not considered as Entities in Debt but
have balance payable to AI due to ICB Case Settlements, these Entities will be
considered as Member in Alert, thus part of the calculation of invoices.
4.2.2.8.2.3 If an EiD settled their debt on or before the announcement of an
upcoming AI invoice but the last installment due date written in the debt repayment
contract has not yet passed, they shall not be included in the calculation of invoices
reflected for that respective invoice of the upcoming ILM and payment period.
4.2.2.8.2.4 An EiD that has settled their debt will start to be included in the
calculation for future AI invoices after (a) the due date written in the debt repayment plan

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 has passed, OR (b) the date when membership status is officially changed from EiD upon
recommendation by MSC on the last ILM - whichever date is earlier.
4.2.2.8.2.5 If an EiD has settled their debt on or before the announcement of an
upcoming AI invoice but has not secured any debt repayment plan & contract with AI, the
Entity shall be included in the calculations and announcement of the upcoming AI invoice.
4.2.2.8.3 All Entities in Debt must sign a repayment contract with AI stating repayment of
debt as stated in the Global Compendium Document Art 2.2.3.5
4.2.2.8.3.1 If no repayment contract is secured, the EiD must pay back at least the
yearly average of their last 3 years AI fees before they get EiD Status every ILM within 2
years.
4.2.2.8.4 An Entity in Debt is monitored by the Finance Subcommittee on matters of
repayment of debt and financial status.
4.2.2.8.4.1 FSC must coordinate with AIESEC International regarding transactions
and installments related to these Entity in Debts

4.3 Global Funds

4.3.1 Role of Funds

4.3.1.1 The purpose and role of global funds is to assist in global operations and on matters that
contribute to the overall contribution and well-being of the Global Plenary.
4.3.2 Authorizing Funds
4.3.2.1 Funds are authorized at ILMs by separate motions to contribute money to each fund by
Global Plenary vote.
4.3.2.2 Funds are authorized under membership fees via distribution model unless otherwise
stated in specific funds or motioned separately.

4.3.3 Summary of Funds

4.3.3.1 Below is the Summary of the funds currently available in AIESEC. For detailed information,
refer to Global Compendium Supporting Document Art. 4.2.

Fund Finances Authorization

Global Funds Income Streams [FSC must Fund Usage Upper Limit Lower Limit Who decides
coordinate with AIESEC spending?
International regarding
transactions and installments

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 related to Entity in Debts]

Travel Cost Global Plenary: Authorized in Travel costs; €60,000.00 0 TCS Model
Sharing motion under distribution model. Unavoidable VISA executed by AI VP
AIESEC International: AIESEC costs; Finance
International and its Management ILM delegate fee
team.

Global Global Plenary: Authorized in Steering team costs; Legislated at 0 AI Management

Meetings motion under distribution model. Strategic meeting IPM Team
Travel Fund AIESEC International: AIESEC costs
International and its Management
team.

Roadmap Fund Global Plenary: Authorized in AI projects and Legislated at 0 AI Management

motion under distribution model. initiatives related to IPM Team
Alumni Donations: Direct alumni the global roadmap.
donations to Fund.
Individual Entities: AIESEC
members and Entities can
contribute directly to the fund.
AIESEC International: AIESEC
International and its Management
team.
Sponsors: who want to contribute
directly.
Any other source of revenue.

Legal Global Plenary: Authorized in Trademark Legislated at 0 AI Management

Management motion under distribution model. registration and IPM Team
Fund Alumni Donations: Direct alumni support costs
donations to Fund. Protection cases,
Individual Entities: AIESEC such as legal fees
members and Entities can
contribute directly to the fund.
AIESEC International: AIESEC
International and its Management
team.
Sponsors: who want to contribute
directly.
Any other source of revenue.

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Information Global Plenary: Authorized in Implementation of €200,000.00 €50,000.00 AI Management
Systems Fund motion under distribution model. additional features Team
Alumni Donations: Direct alumni on the current
donations to Fund. systems
Individual Entities: AIESEC correction of
members and Entities can potential risks to
contribute directly to the fund. data security
AIESEC International: AIESEC Creation of new
International and its Management information systems
team.
Sponsors: who want to contribute
directly.
Any other source of revenue.

ILM Reserve ILM Surplus: 20% of surplus made Unexpected ILM No upper limit AI Management
Fund from each ILM. expenses for which Team
ILM Host Fines: 0.2% of total the OC/CC is not
budgeted expenditure of the responsible. Such
meeting according to a report cases are to be
presented at ILM immediately approved at an ILM
prior to the one hosted. Amount is by a 2/3 majority.
charged every 3 months from the Unexpected ILM
last day of the meeting when the expenses which
report was due until the report is endanger the ILM’s
received by AI. minimum functional
AIESEC International: AIESEC execution. Such cases
International and its Management are to be approved by
team. AI and the ILM
Subcommittee.
0

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ICB Fund Global Plenary: Authorized Support costs of ICB No upper limit 0 AI Management
annually in motion under chair and Team with
distribution model. participation at ILMs proposal from
Alumni Donations: Direct alumni for physical ICB team ICB, budget
donations to Fund. meetings. reviewed by FSC
AIESEC International: AIESEC Support auditing every ILM
International and its Management cases caused by XPP
team. violation (min. travel
and visa costs
covered)
Other supporting
activity costs
(disbandment,
internal auditing of
Entities, consulting
related expenses)

Global Plenary AI budget see 3.14.1 Risks assessed that No upper limit 0 Global Plenary on
Reserve Fund Alumni Donations: Direct alumni may harm the FSC
donations to Fund. organization as a recommendation
AIESEC International: AIESEC whole.
International and its Management
team.

Customer Global Plenary: Authorized in Support Customer No upper limit 0 AI Management

Experience motion under distribution model. Experience Team, budget
Fund Alumni Donations: Direct alumni Management reviewed by FSC
donations to Fund. activities every ILM
AIESEC International: AIESEC
International and its Management
team.

GFB Fund Global Plenary: Authorized in Support costs of GFB No upper limit 0 AI Management
motion under distribution model. chair and Team with
Alumni Donations: Direct alumni participation at ILMs proposal from
donations to Fund. for physical GFB GFB, budget
AIESEC International: AIESEC team meetings. reviewed by FSC
International and its Management Other supporting every ILM
team. activity costs (HR,
planning, education

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 costs, auditing of
Entities, consulting
related expenses)

Global Global Plenary: Authorized in Support costs of No upper limit 0 AI Management

Expansions motion under distribution model. investment in the Team with
Fund Alumni Donations: Direct alumni development of proposal from the
donations to Fund. expansion and regional office,
AIESEC International: AIESEC downgraded Entities. budget reviewed
International and its Management Cost should cover by FSC every ILM
team. operations, Human
resource and
legalities.

Regional Funds Global Plenary: Authorized in Region's growth and No upper limit 0 Regional Plenary
motion under distribution model. development
Regional Plenary: Authorized in
motion under the regional
distribution model.

4.3.4 Reporting of Funds

4.3.4.1 The Finance Subcommittee is responsible for reporting on the Global Funds to the Global
Plenary
4.3.4.2 Reporting shall follow the framework set in the Supporting Document 4.1.3 Reporting of
Funds
4.3.4.3 Submission time
4.3.4.3.1 Reports on the use of funds are sent out 20 days after the end of every quarter as
a collective document or set of documents.
4.3.4.4 Location of report
4.3.4.4.1 The reports will be made available to the Global Plenary in written form and
available on the global knowledge management tool currently in use.

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5. GLOBAL DECISION MAKING

AIESEC has a global decision making process that shall allow everybody in AIESEC to bring necessary
changes to the organization.

5.1 International Conferences

5.1.1 The following international conferences are happening in AIESEC: IC (International Congress), IPM
(International Presidents Meeting) and Growth Network Meetings (EXPROs and LDSs). See Global
Compendium Supporting Document for the detailed explanation of International Conferences and the
bidding process of international conferences.
5.1.2 A Global Legislation (GL) is defined as the gathering of Full Members (Members with voting rights),
either physically during IC and IPM or virtually (Extraordinary GL).
5.1.3 The ILM Subcommittee is responsible for bidding, tracking and discharge of each ILM, mediating
between AI, CC and hosting Entities and amending related compendium if needed.

5.2 Global reporting

5.2.1 Global reporting is the process of informing the Global Plenary about processes happening in AIESEC
that result in legislative decisions.
5.2.2 Reporting shall support the decision making process in specific matters and build the support system
for Global Legislations where Motions and Mandates are being legislated by the Full Members of AIESEC.
5.2.3 Reporting bodies shall follow the table of reporting outlined in the Global Compendium Supporting
Document Art. 5.2.

5.3 Motions

5.3.1 By passing Motions, changes can be made to the Global Compendium. The following forms of Motions
shall be allowed at Global Legislations:
5.3.1.1 Motions - which remain indefinitely in the Compendium unless amended or deleted by
subsequent Global Legislations.
5.3.1.2 One-year Motions: which are binding until the Global Legislation one year from the one at
which the motion was passed.
5.3.1.3 Long-term Motions - which are binding until the Global Legislation a specified amount of
years from the one at which it was passed.

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5.3.2 Members shall have the right to propose or second motions and amendments. AI shall have the right
to propose motions and amendments subject to their proposal being seconded by two Full Members.
5.3.3 No matter shall be discussed unless it concerns an approved subject of legislation fair/s or at the
discretion of the Chair of the ILM during the Global Legislation itself.
5.3.4 No Motion or Amendment shall be open for discussion until it has been seconded, but the proposer
shall have the right to speak on a Motion in order to find a seconder.
5.3.5 A Motion shall only be open for discussion or Amendment after the proposer and seconder have been
given the opportunity to speak in support of the Motion.
5.3.6 Motions shall only be withdrawn or changed with the consent of both the proposer and seconder.
5.3.7 All Motions become effective the day after the closing of the ILM as long as no other date is explicitly
mentioned in the motion.
5.3.8 Refer to Global Compendium Supporting Document Art. 5.3 for limited Motions currently being
processed.

5.4 Mandates

5.4.1 A Mandate requests a body (such as Member Entities, Subcommittees, AIESEC International, External
Bodies and the Internal Auditor) in AIESEC to perform a function outside the ordinary course of duty; the
Mandate must be discussed with and accepted by the body that shall receive the Mandate.
5.4.2 An accepted Mandate needs to be reported on by the mandated body at least by 15th of June and
15th of January to the Governance and Legislation Subcommittee.
5.4.3 All mandates become effective the day after the closing of a Global Legislation as long as no other date
is explicitly mentioned in the mandate.
5.4.4 See the Global Compendium Supporting Document Art. 5.4 for ongoing Mandates.

5.5 Representation

5.1 AI, Members of AIESEC and CUs shall be allowed to attend and speak at all ILMs.
5.2 External Bodies and guests of the Global Legislation shall only attend and be heard with the permission
of the meeting.

5.6 Chair

5.6.1 Global Legislations shall be presided over by a Chairperson who manages the flow of Global
Legislation and who has to be neutral when expressing themselves.
5.6.2 The chairperson of an ILM (IC, IPM) shall also be the chairperson of the respective Global Legislation.

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5.6.3 A chairperson gets accepted by passing a motion with simple majority at the beginning of the Global
Legislation.
5.6.4 If the Chairperson is affected by or interested in any motion, the Members may propose, second and
vote for the Chairperson to be replaced during the discussion of that motion. If the motion is carried, the
PAI/VPF shall temporarily conduct the meeting.

5.7 Roll Call

5.7.1 In order to be clear about the number of voting Entities present at the Global Legislation, a Roll Call
shall be taken at the commencement of the legislative session. An Entity that misses the Roll Call
automatically loses voting rights and the Full Member status.
5.7.2 Should a Member subsequently join/leave the Global Legislation, they shall inform the Secretary of
their presence/absence and this shall be recorded in the minutes. An Entity that has been partly or fully
absent during the discussion of a motion, is not granted speaking and voting rights for the respective
motion/s.
5.7.3 At the start of the Global Legislation, the Chairperson shall inform delegates of these procedures.

5.8 Order of Precedence

5.8.1 The Chairperson has to allow the following Procedural Motions while there is already a Motion being
discussed about, in the following order of precedence:
5.8.1.1 A Motion to put;
5.8.1.2 A Motion to postpone of adjourn the matter to a specific later meeting;
5.8.1.3 A Motion to refer a matter to a present body for investigation for report;
5.8.1.4 A Motion to limit the debate to a certain specified time;
5.8.1.5 A Motion of no confidence in the Chair;
5.8.1.6 A Motion to adjourn the meeting to a later specified date.
5.8.2 Motions falling under 5.8.1.1 (Motion to put) and 5.8.1.6 (Motion to adjourn the meeting to a later
specified date) must receive a majority of two thirds (2/3) of the voted cast excluding abstentions.
5.8.3 If a Motion to put (5.8.1.1) has been seconded, no further discussion of the original question shall be
allowed. If the Motion is carried, only the proposer of the Motion under discussion shall be allowed to speak
before that respective Motion is put to the vote.
5.8.4 If the Motion to limit debate to a certain specified period of time (5.8.1.4) is carried, the Chairperson
shall draw up a list of those wishing to make their first speech on the subject and allow each one an equal
proportion of the specified period. The proposer shall be allowed five minutes to present their final thoughts
before the original Motion is put to a vote.

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5.8.5 Should any procedural motion under section 5.8.1 be defeated, twenty minutes (20) shall elapse
before such a motion may be proposed again, unless the Chairperson is of the opinion that the
circumstances have materially altered in the meantime.

5.9 Amendments

5.9.1 Amendments to an existing motion can be proposed to improve the motion.

5.9.2 No Amendment shall be accepted which, by the Chairperson's ruling, cancels, destroys or significantly
changes the original motion.
5.9.3 No Amendment shall be accepted if there is already an Amendment being processed.
5.9.4 The sole right to approve an Amendment after the Chair approved it is given to the proposer of the
initial motion.
5.9.5 If an Amendment is accepted, the Motion - as amended - shall become the motion and shall be the
focus of any further discussion and upon which the final vote is taken.

5.10 Conduct of Global Legislation

5.10.1 The Chairperson shall have the right to make a speakers list and close it according to his/her
discretion.
5.10.2 A speaker shall direct their speech directly to the Motion or Amendment under discussion.
5.10.3 No Member shall be allowed to speak more than once on a Motion, as long as a Member who has not
spoken on that Motion desires the floor. No Member shall speak for longer than ten (10) minutes at one
time. No member shall repeat the arguments that have been stated by another member before to avoid
redundancy and foster efficient discussions.
5.10.4 The Global Legislation shall finish no later than 10pm (local time in the location of the ILM), unless
permission to extend the session is granted by a simple majority of Members.
5.10.5 In addition to discussion on a Motion, the Chairperson shall allow the following points in order of
precedence:
5.10.5.1 Point of order: A Point of Order must be heard at all times and the Chairperson shall give
their ruling before the Motion is further discussed. Points of Order shall deal with the conduct of procedure
of the debate. The member rising to put the Point of Order shall prove one or more of the following:
5.10.5.1 That the speaker is addressing an issue that is not relevant to the current topic;
5.10.5.2 That the speaker is using unparliamentary language;
5.10.5.3 That the speaker is infringing upon the Constitution or Standing Orders.

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 5.10.5.2 Point of information: A person can provide or ask for information missing. When seeking for
a point of information, it has to be stated who the body or Entity is whom the information shall be provided
by. Points of information exclude personal opinions.

5.11 Voting

5.11.1 The quorum for a legislative meeting of Members at ILMs shall be two-thirds (2/3) of the voting
members attending the ILM.
5.11.2 In voting, motions shall be carried by a simple majority, unless the relevant section of the
Constitution or International Compendium states otherwise. Simple majority is defined as follows: Simple
majority is when more votes are in favor of the motion than against it.
5.11.3 The casting of votes shall be in the following order: Votes for, against, abstentions. If the number of
votes for and against a motion is equal, the motion shall be regarded as not carried. Members abstaining
shall be considered as non-voting

5.12 Proxy Voting

5.12.1 In the event that the MCP is unable to attend an ILM, the respective MCP must nominate a suitable
candidate as proxy to represent him. The Chair of the Governance and Legislation Subcommittee, the AI
VPF and the PAI in have to be informed about the assigned Proxy in a written and printed format by Day 0 of
an ILM or 10 days before the Extraordinary Global Legislation (EGL).
5.12.2 A Proxy may be from the same Entity the MCP is from, but may also be from another Entity.
5.12.3 Should the Member issuing the proxy wish it to be valid only for certain motions or mandates, this
has to be communicated to the Chair of the Global Legislation.
5.12.4 Proxies cannot be used to propose or second a motion.

5.13 Minute taking

5.13.1 For minutes taken during ILMs the procedure outlined in the Global Compendium Supporting
Document Art. 5.5.

5.14 Extraordinary Global Legislations

5.14.1 Extraordinary Global Legislations can be proposed by any body of AIESEC. See Global Compendium
Supporting Document Art. 5.6. for the process of an Extraordinary GL.

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5.15 Governance and Legislation Subcommittee (GLSC)

5.15.1 The Governance and Legislation Subcommittee (GLSC) is responsible for the global decision making
process.
5.15.2 The GLSC is responsible that mandated bodies are following the timeline for reporting stated in the
compendium: Reports about mandates are due by 15th of June and 15th of January and have to be sent to
the GLSC to ensure concrete action steps for upcoming Global Legislations. A decision about the mandate
has to be stated in the report to:
5.15.2.1 Grant more time for research on the mandate;
5.15.2.2 The removal of the mandate;
5.15.2.3 A motion to propose for the upcoming Global Legislation.
5.15.3 The GLSC compiles the reports of Subcommittees and reports about mandates and sends them,
together with a list of findings, to the Global Plenary on 25th of January and 25th of June each year.
5.15.4 The GLSC is responsible for the agenda of the Legislation pre-meeting happening prior to IC and IPM
and for the final agenda of legislation fairs.
5.15.5 Legislation fairs are hosted by the GLSC Chair during ILMs and before Extraordinary Global
Legislations.
5.15.6 The GLSC creates the legislation booklet for Global Legislations. Motions and Mandates cannot be
proposed if they have not been proposed and accepted as topics to discuss during legislation fairs.
5.15.7 The detailed version of the GLSC can be found in the Supporting Document of the Global
Compendium Art. 5.7.

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6. AI MANAGEMENT

Constitution of Stichting AIESEC International and AIESEC International Inc Section 6.1 of the Global
Compendium details the legal structure, obligations and responsibilities of Stichting AIESEC International
and AIESEC International Inc, as based in Rotterdam, the The Netherlands and Montreal, Canada
respectively. If AI is based in another Country/City/territory, this Constitution will need to be changed.

Name and seat

Article 1
The Foundation bears the name of Stitching AIESEC International.
It has it’s seat in the municipality of Rotterdam.

Nature and philosophy (The AIESEC Way)

Article 2
AIESEC is a global, independent, non-partisan, not-for-profit, youth-run organization. AIESEC does not
discriminate on the basis of gender identity and/or expression, sexual orientation, ability, creed, or religion,
nor on the basis of national, ethnic, or social origin.

How was AIESEC funded:

It all started after the Second World War when a group of young people determined that cross-cultural
understanding was essential to prevent similar conflicts and foster peace in the world.
AIESEC was founded after the Second World War by a group of young people from Europe
(Belgium, Denmark, Finland, France, Netherlands, Norway, and Sweden). The political and social context of
the time shaped our fundamental principles. The perception of 'peace' has evolved. We now know peace
starts with people accepting, understanding, and embracing what makes us unique. We inhabit a world that
is interconnected, globalized, and technologically prolific. In such rapidly changing circumstances, we believe
that young people must learn to adapt quickly and solve a diverse, growing range of problems. That is why
AIESEC strives for Peace & Fulfillment of Humankind's Potential.

The why of AIESEC:

AIESEC strives to achieve Peace and fulfillment of humankind’s potential.
In today’s context, ‘Peace’ does not only mean avoiding war. Peace can refer to a world where no
conflict arises from cultural, religious, or other differences in humanity. Peace can also refer to being in
harmony with yourself. AIESEC's aspiration is for every young person to work towards their understanding
of peace and take collaborative action towards fostering a better world. Through “Fulfillment of

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Humankind’s Potential", AIESEC envisions a world where people continually become better versions of
themselves and empower others along the way.

Who does AIESEC serve:

We engage and develop youth to create a better future for themselves, their communities, and therefore,
the world.
Getting young adults involved and developing them is essential. We believe that we as young people
have the responsibility to create a long-lasting, positive impact on our own lives, our communities, and the
world at large. We trust that we will drive and shape the future with our passion, dynamism, and innovative
spirit.

How do we achieve our why:

We believe leadership is the fundamental solution and it can be developed in anyone, anywhere. We
empower young people to become value-driven leaders who positively impact the world around them.
AIESEC is a platform that strives to unlock the potential within humankind. We do that by enabling
young people to demonstrate and live by values based on AIESEC's leadership development model. We
believe that challenging experiences with AIESEC and leading with values in mind paves the way for a
positive impact.

Our Unique Leadership Development Model

AIESEC’s leadership development model seeks to prepare youth to take a stand on what they care about and
embody the AIESEC values for long-lasting impact. These values are as following :
Striving for excellence
Activating leadership
Demonstrating integrity
Enjoying participation
Acting sustainably
Living diversity
This is the leadership that we believe in and develop.

What do we offer: We enable young people to develop their leadership through learning from practical
experiences in challenging environments. We provide opportunities that seek to enhance cross-cultural
understanding, in collaboration with like-minded partners.

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 Our Impact: We create direct and positive impact in the world by developing leadership in young
people. We impact the world indirectly by designing cross-cultural opportunities that strive to address
society's challenges.
Cross-Cultural Understanding: Cross-cultural understanding encompasses an understanding of
different nations or territories, races, ethnicities, religions, as well as across different sectors and segments
of society.
Leadership Opportunities: AIESEC provides diverse opportunities such as exchange opportunities,
work experiences, volunteering, and other activities created for young people to develop their leadership in
unfamiliar environments.
AIESEC Membership: AIESEC members collaborate in teams to create, support and manage these
cross-cultural, practical experiences. This provides an opportunity for our members to live fulfilling team
experiences that activate their leadership potential.
Our Partners: We define our partners as an individual, corporation, institution, or organization that
shares our values, adheres to our ethics, and helps us amplify our impact.

Inner and Outer Journey

We believe that young people learn best by doing and reflecting. This is the framework AIESEC provides for
every experience, which enables young people to learn the most out of their experience. The Outer Journey
is the individual’s interaction with the external environment. The Inner Journey is the internal change that
happens within the individual. Together, they can make the learning of any experience sustainable.

Our Aspiration: We want to engage and develop every young person in the world.

Capital
Article 3
The capital of the Foundation shall be formed by contribution of Participants, subsidies, sponsorships,
donations, grants or acquired from inheritance as well as charity.

Participants
Article 4
The Foundation allows groups of students and recent graduates who are interested in world issues,
leadership and management based in a geographical area (“applicants”), to participate in its objectives,
networks, activities and projects as they become Participants.

The General Assembly of Participants (“GA”) decides if and when an applicant may become a Participant. The
Management Board will provide an official recommendation to the GA on whether applicants should

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become Participants. The relevant criteria to become a Participant will be laid down in the Rules and
Regulations of the Foundation.

Management Board: Composition, appointment, loss of function.

Article 5
1. The structure of the Management Board will be proposed by the Management Board and then
decided by the General Assembly during the AIESEC International Presidents Meeting annually.
2. An incomplete Management Board retains its powers.
3. The President is appointed by the International Presidents Meeting (“IPM”) of the Participants.
4. Vice-Presidents receive a confidence vote by the General Assembly and are appointed by the
President.
5. Managers are appointed by the President.
6. Members of the Management Board shall be appointed for a maximum of twenty seven (27)
months. They can be re-appointed, but may only serve a total of thirty nine (39) months on the
Management Board.
7. Only natural persons can be appointed members of the Management Board.
8. The President ceases to hold office:
a. By his death;
b. By his retirement;
c. Because he is declared bankrupt or applies for a moratorium;
d. By the appointment of a guardian over him;
e. By removal from office by the court in cases provided for in law;
f. At the end of his term of appointment;
g. By his removal from office by the Management Board for important reasons; and
h. By his removal from office by the General Assembly for important reasons.
9. The other members of the Management Board cease to hold office in the cases as set forth in
paragraph 8 and also by dismissal by the President for important reasons.

Management Board: Duties and Powers

Article 6
1. The Management Board is in charge of the management of the Foundation.
2. The Management Board is authorized to enter into agreements to purchase, sell or encumber
registered goods and to enter into agreements whereby the Foundation commits itself as surety or
several co-debtor, answers for a third party or binds itself as surety for a debt of a third party, and to
represent the Foundation in the matter of such actions.

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Management Board: Representation
Article 7
1. The Foundation will be represented as follows:
a. By the Management Board; and
b. By two members of the Management Board acting jointly.
2. The Management Board may resolve to grant power of attorney to one or more members of the
Management Board and also to third parties, to represent the Foundation within the limits of that
authority.

Rules and Regulations

Article 8
1. The Management Board shall draw up Rules and Regulations of the Foundation to be approved by
the General Assembly. GA.
2. The Rules and Regulations of the Foundation can only be amended in conformity with Article 10
paragraphs 1 through 3.

Financial year and annual accounts

Article 9
1. The financial year of the foundation runs from the first day of June up to and including the
thirty-first day of May the following year.
2. The Management Board is obliged to keep such records of the financial position of the Foundation
so that its rights and obligations can be known there from at all times.
3. The Management Board is obliged to draw up a balance sheet and a profit and loss account of the
Foundation every year within six months of the end of the financial year.
4. Before proceeding to the approval of the documents referred to in paragraph 3, the Management
Board may have these examined by an accountant appointed by them. The accountant shall report
on his examination.
5. The Management Board is obliged to keep the documents referred to in the previous paragraphs for
seven years.

Amendment of the Articles of Association

Article 10
1. The Management Board is authorized to amend the Articles of Association only with the prior
approval of the General Assembly

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 2. A resolution of the Management Board to amend the Articles of Association will require unanimous
consent in a full meeting. If a meeting in which a resolution to amend the Articles of Association is to
be discussed is not complete, a second meeting shall be convened to be held no earlier than two and
no later than four weeks after the first meeting. The second meeting may, irrespective of the
number of members of the management board present or represented, decide lawfully about this
proposal since this was previously discussed in the first meeting. Unanimous consent is required
during the second meeting to take this resolution forward.
3. A copy of the proposal, containing the verbatim text of the proposed amendment, shall be attached
to the convocation to the meeting in which an amendment of the Articles of Association is to be
proposed.
4. A resolution to amend the Articles of Association shall become effective only after a notarial
instrument has been drawn up there from. Each member of the Management Board shall have
power to execute that instrument.

Dissolution
Article 11
1. The Management Board is authorized to dissolve the foundation only with the prior approval of the
General Assembly.
2. The resolution to dissolve the Foundation shall determine the destination of the balance of the
remaining funds.
3. After the dissolution, the liquidation will be affected by the Management Board.
4. After termination of the liquidation, the books and records of the dissolved Foundation shall remain
in the custody of the person designated by the liquidators for the period prescribed by law.
5. Otherwise, the stipulations of Title 1, Book 2 Dutch Civil Code shall apply to the liquidation.

6.1 General information about AIESEC International

6.1.1 Anything, which is not provided for by the present Constitution, shall be settled according to the
provisions of the Dutch Law.
6.1.2 AI shall be responsible for the management and development of the association.
6.1.3 The term of office of the AI runs from September 1st to August 30th of the following year, with the
possibility to be reduced by up to 3 calendar weeks by the Management Team of AI.
6.1.4 AI shall be staffed and receive salaries based on the following timeline:
6.1.4.1 PAI: July 1st until September 30th the following year;
6.1.4.2 VPF: July 1st until September 30th of the following year;
6.1.4.3 VPPD and VPIM: 15th July until September 30th of the following year;

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 6.1.4.4 Remaining VPs and Managers: August 1st until August 30th of the following year;
6.1.4.5 If employment dates are changed as per 6.1.3, the salary will only be paid for the time an AI
member is actually working for AI.
6.1.5 The AI VP F from the outgoing AI team shall be appointed to support AI with logistics for IC. This
person’s term will be extended by one month and they will receive their usual salary payable for that
additional month. In case the AI VP F cannot meet this requirement, AI needs to appoint another person
from the management team.
6.1.6 All AI team members shall be paid the minimum wage level as stipulated by the government of the
Country/Territory AI is based in.
6.1.7 AI shall be discharged by a simple majority of the voting Members at the first ILM after completing
their term of office. This discharge shall be based on the full AI report (for internal knowledge management
purposes), annual report (for external purposes) and unqualified external audit report signed by the
auditors, internal audit report and Supervisory Group recommendation. Each AI team shall ensure an annual
report is produced to be presented during VLM maximum within two months after the terms ends (31st
August)
6.1.8 AI shall be responsible for the distribution of an updated International Compendium no later than one
month after every ILM.
6.1.9 AIESEC International should deliver all reports and preparation packages 14 days before each
International Conference starts.
6.1.10 The length of term for an AI member is 12 months, unless otherwise stated in the International
Compendium.

6.2 AI Services

6.2.1 The role of AIESEC International

6.2.1.1 AIESEC International’s unique role is to:
6.2.1.1.1 Govern and manage the global association according to its statutes;
6.2.1.1.2 Facilitate and lead operations and communications between Members towards
organizational purpose and goals;
6.2.1.1.3 Represent and act on behalf of the global association.
6.2.1.2 AIESEC International’s services determine the role of AIESEC International towards each of
these three areas and will be delivered to all entities, regardless of their membership status.

Role Services

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 Govern and manage the global association Association Governance
according to its statues
Association Legal Management

Association Financial Management

Facilitate and communications between Members Global Network Management

towards organizational purpose and goals
Network Information Management

Long term organizational Strategy Management

Represent and act on behalf of the global Global Brand Management

association
Global Sales and Partners Management

Global long term Organizational Development

6.2.1.3 The global budget is legislated according to services and determines the level of resources
of AI into each of the global services.
6.2.1.4 The Global Service delivery is to be included in the AI plan. The AI plan also specifies how AI
will deliver the service in a specific year.
6.2.1.5 The Internal Auditors are responsible for auditing AIs fulfillment of the global services and
report at every ILM through the Internal Auditors’ report.

Association Governance

To govern AIESEC according to the constitution and compendium legislated by Global Plenary and to keep
AIESEC International accountable internally and externally through appropriate Governance and
Accountability structures.

Key Activities Deliverables

Global Reporting Release AI plan to global plenary by IC

Submit quarterly service report to Global Plenary and Internal Auditors by

(1) 30 Oct
(2) 31 Jan

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 (3) 30 Apr
(4) 31 Jul (or by end of previous term if earlier)

Submit quarterly AI Plan reporting to Global Plenary, Supervisory Group

and Internal Auditors including
(1) Progress on organizational goals
(2) Assessment on global strategy
(3) AI financial sustainability
(4) Global systems

Submit quarterly AI Mandate report on status and progress to Global

Plenary and Internal Auditors

Submit an Annual report which to be distributed to MCPs virtually at each

IC

Global Legislation Run legislation sessions according to Global Compendium Standing Orders
at every ILM

Release minutes and updated compendium latest 30 days after legislation

Select and manage Global Subcommittees according to Compendium

External Audit of AIESEC Deliver yearly External financial Audit of Stichting AIESEC International as
International per Dutch law

To provide written external financial audit to Global Plenary at every IC and

when requested virtually

Internal Audit of AIESEC To host an Internal Auditors report space at every ILM.
International
To facilitate and bear the cost of Internal Audit in AI offices, providing all
requested documents and information.

To facilitate the release of an Internal Audit report at least 10 days before

the ILM and no later than 10 days after the end of the audit

To provide a written Management Response to the Internal Audit report at

every physical ILM to Global Plenary

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Supervisory Group Manage Supervisory Group membership according to the compendium to
management ensure the SG terms of reference are adhered to

Host a Supervisory Group meeting every quarter

Release minutes of SG meetings 30 days after every SG meeting

To host SG dialogue for MCPs at every ILM

Association Legal Management

To ensure legality of Global Association Operations and legal protection of assets including trademark
and legal brand.

Key Activities Deliverables

Legality of AIESEC Ensure legal registration of Stichting AIESEC International, Articles of

International Association and Directors and provide documents to MCPs if requested

Ensure legality of employment of AI members and valid global travel

insurance for duration of employment

To comply with Dutch tax regulations and other laws and regulations (i.e.
reports)

Ensure assets (tangible and intangible) of AIESEC International are insured

and protected by contract

Ensure legality of contracts and legal advice on rights and liability incurred

Submit a report on legal risks to the Plenary when identified

Ensure that both physical and virtual copies of all contracts and data crucial
to AI operations is backed up

Ensure data protection of employees personal details as in accordance with

Dutch Law

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Brand and IP protection Enable trademark transfer and acquisition of trademarks from geographic
areas to Stichting AIESEC International

To manage, renew and validate trademarks owned by Stichting AIESEC

International

To report at every IPM progress of trademark registration and risk

associated

Association Financial Management

To manage the financial resources of AIESEC International, including budget, investment funds, reserves
and Global Funds according to legislated budgets and fund purposes, to ensure financial sustainability and
growth towards the purpose of AIESEC.

Key Activities Deliverables

Financial and Distribution Deliver an annual report evaluating financial and distribution models based
Models management and on organizational resource distribution and ability to pay
development
Release calculations of Member Fees and invoices bi-annually, latest 30
days before each ILM

AI Budget and financial To control the AI budget expenditures to remain within legislated amounts
Management
Submit a quarterly financial report to global plenary and Supervisory Group
including
(1) Budget report according to AI plan and global services
(2) Cash flow
(3) Member debts
Also submit to the SG:
(1) Receivables overview

Submit a balance sheet with the report bi-annually

Deliver External Financial audit with

(1) Full balance sheet

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 (2) Profit & Loss
(3) Reserves and equity overview
(4) Specified fund report

Ensure AI has a procurement policy for vendors in place and it is

documented in written format

AI Funds and investment Ensure AI has an Investment process in place and it is documented in
management written format

Submit report to Internal Auditors on Investments made and their

contribution to AI plan and global strategy

Submit quarterly report on investments made

Global Funds management To manage global funds according to compendium

To submit a report on Global fund usage at every ILM

Network Operations Management

To ensure there is a global and AI plan in place to reach organizational MoS and organizational purpose
and to facilitate operations between Entities to achieve it.

Key Activities Deliverables

Global Planning and Strategy To facilitate a global planning process at every IPM which gives direction
Development and input to MCs and AI planning and strategy

To create an annual AI plan based on the global plan aimed towards

achievement of organizational purpose and targets and present/deliver it at
IC

To communicate at IC which channels, platforms and spaces will be used to

implement the AI plan with the network

To communicate AI roles and responsibilities and internal structure at

every IC and at any next ILM following any changes

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 Submit quarterly AI Plan reporting to Global Plenary, Supervisory Group
and Internal Auditors including
(1) Progress on organizational goals
(2) Assessment on global strategy
(3) AI financial sustainability
(4) Global systems

Global Steering Team To define and communicate role of Steering Team in Strategy Development
management and Plan Implementation when releasing applications

To release applications and select a Steering team that consists of

representation of every region in the network by 15 April of the previous
year

To host 2 Steering Team meetings per year in AI offices

To release output and recommendations of Steering team 15 days after the

end of each meeting to the network

Conference management To develop agenda and content for Global and Regional Conferences

To release outputs of all sessions 15 days after Global and Regional

Conferences

Release satisfaction surveys with MCPs regarding content and logistics and
submit a written report based on conclusions

Product Quality Ensure Quality Management Systems are in place that measure the quality
Management of our Products as defined by AI

Ensure information on quality of Products across the association is

available and transparent to MCPs

International Control Board To select an ICB chair every year under the recommendation of the Legal
Management Subcommittee and facilitate the selection of ICB members

Facilitate the delivery of ICB reports at every quarter report

Financially sustainable, To select an GFB chair every year under the recommendation of the F SC

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transparent and Legal To facilitate the delivery of GFB reports at every quarter report
Operations of the network

International Control Board To select a Global Expansion Committee Chair every year
Management
To facilitate the delivery of GEC reports at every quarter report

To make recommendations to Global Plenary on Expansion proposals if

requested by the GEC or Legal SC

Network Information Management

To ensure there are information and communications systems and platforms in place to enable the
organization to reach MoS and organizational purpose and to facilitate operations between Entities to
achieve it.

Key Activities Deliverables

Global IT systems To ensure 99% availability of Global IT systems including all elements of the
management and GIS and global website
maintenance
To report on IT systems developments and maintenance with the AI quarter
report

Goals, targets and quality To measure organizational goal achievement on global, national and local
measurement and reporting level and make available to all Entities in the network

Internal Communications To ensure 99% availability of internal communications systems irrespective

of territory

To have clearly defined official communication channels from:

(1) AI to MCs/MCPs
(2) AI to LCs
(3) AI to General Membership
(4) MCs/MCPs to AI
(5) MCs/MCPs to MC/MCPs

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Global Long-Term Organizational Development

To develop the organization in a long term perspective towards organizational purpose and align the
organization around it.

Key Activities Deliverables

AIESEC Way Organizational To ensure availability of AIESEC Way toolkit and interpretation to the
Alignment global network

To ensure alignment of Entities by physical delivery of content at every ILM

Midterm ambition To facilitate midterm ambition creation based on the AIESEC Way
development and
To set global measures and targets for the organization based on the
implementation
AIESEC Way and midterm ambition

Product and Product To research on feasibility of introducing new Products or products, as well
Development for long term as entering new markets in association with AI planning processes
non-organic growth
Ensure a global innovation framework is in place

Global Brand Management

To enhance the global brand of AIESEC in the market through PR and Marketing activities and align the
network on branding and external communications.

Key Activities Deliverables

Global Public Relations To report on relations of AIESEC with other global associations,
organizations or government institutions at every quarter report

To release reports to the Global Plenary quarterly on events attended on

behalf of the global organization

To create and deliver an annual report for AIESEC International

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 To communicate on behalf of AIESEC on matters concerning the global
association, including press and organizational stands on topics

Global Communications and To manage and develop content for Global Website(s) and portals of
Channels management AIESEC

To manage and develop content for global social media channels

To design and manage global logos and other visual elements of the brand

Network Brand Alignment To manage and update official global brand management wiki/resource
centre including
(1) Brand attributes, elements and guidelines
(2) Logos and visuals
(3) Maintain internal knowledge management on PR and External
communications

Global Crisis To make available a global crisis communication resource center for all
Communications Entities

To manage crisis communication internally and externally on behalf of the

global association

Global Sales and Partners Management

To partner with Multinational organizations and associations in order to provide leadership development
with those organizations and increase AIESEC’s brand association on a global level. To fund AIESEC’s
global activities and investments in coherence with those objectives.

Key Activities Deliverables

Product Sales and To create a yearly sales and delivery plan including:
partnership management to (1) Industry, Market and prospect focus for youth leadership development
Multinational organizations (2) Target of Product Experiences and other benefits (i.e. brand association
etc.)
(3) Revenue target through Experience delivery
(4) Any other revenue target

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 To report on the facilitation delivery of experiences and partnerships on
local and national level

To submit a quarterly report on pipeline of sales, experiences delivered and

revenue generated compared to plan

6.2.2 Regional Office Services

6.2.2.1 The role of Regional Office
6.2.2.1.1 Support network operations
6.2.2.1.2 Organizational strategy implementation
6.2.2.1.3 Regional sales development
6.2.2.1.4 Regional office’s services determine the role of the regional office towards each of
these three areas and will be delivered to all Entities, regardless of their membership status.
6.2.2.2 Regional Office Services
Support network operations
Regional network management
Facilitate collaboration amongst Entities
Organizational Strategy implementation
Entity development
Regional Sales Development
Regional Sales and Partnership management

6.3 Role of the President (PAI)

6.3.1 Strategic Direction

6.3.1.1 Ensure the alignment of AIESEC’s strategic decisions with the AIESEC Way while ensuring
continuous progress towards AIESEC mid-term direction.
6.3.1.2 Ensure a long-term approach towards AIESEC’s strategic decisions while ensuring the
memory of the organizational change is kept.
6.3.1.3 Ensure a proper strategic AI planning and its execution in alignment with the first two items
listed above.
6.3.1.4 Ensure Al Plan supports the creation and/or implementation of the mid-term direction and
the fulfillment of AI Role & Services as per the compendium.
6.3.1.5 Oversee, supervise, feedback and track strategic work progress at different parts of the AI
structure.

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 6.3.1.6 Ensure the AI internal structure is fit to fulfill the strategic role of AI and implementation of
the mid-term direction.
6.3.1.7 Participate and be final responsible for the involvement of MCPs in strategic decisions.
Ensure high quality of the steering team meetings and outputs.
6.3.2 Team Management
6.3.2.1 Ensure the delivery of the Team Standards in the AI team.
6.3.2.2 Support the AI Team in preparation for their role through the definition of Job Descriptions
and support the transition process between both AI Teams.
6.3.2.3 Facilitate a planning process that comprises individual JDs in accordance with AIESEC
mid-term direction & AI role and services.
6.3.2.4 Establish and reinforce an appropriate routine and cadence for Performance Management
across the AI Team in accordance with Team Standards.
6.3.2.5 Ensure education and training needed for the team and the individual members are
delivered based on needs.
6.3.2.6 Facilitate, encourage and support the AI Team personal development and goals in
accordance with Team Standards and follow up on a quarterly basis as a minimum.
6.3.3 Financial Sustainability
6.3.3.1 Coordinate the AI efforts to deliver the commitments with the resources allocated through
the creation and tracking of the AI Plan.
6.3.3.2 Be an active member of the Management Team.
6.3.3.3 Support the VP Finance in tracking budget variations at the end of each month in synergy
with the rest of the Management Team
6.3.3.4 Coordinate the AI efforts to deliver the commitments with the resources allocated through
the creation and tracking of the AI Plan.
6.3.3.5 Be an active member of the Management Team.
6.3.3.6 Support the VP Finance in tracking budget variations at the end of each month in synergy
with the rest of the Management Team.
6.3.3.7 Keep the AI Team informed of AIESEC International's Financial State on a regular basis.
6.3.3.8 Keep track of the BD and Finance responsibilities and synergy to ensure achievement of AI
revenue goals.
6.3.4 Governance and Accountability
6.3.4.1 Ensure follow up of Global Plenary decisions being addressed, internal auditors, Steering
Team and Supervisory Groups recommendations and/or output of meetings and/or discussions.
6.3.4.2 Ensure reporting to the Global Plenary on a quarterly basis AI plan fulfillment and AI Budget
Execution.
6.3.4.3 Ensure preparation & reporting to the Supervisory Group on a quarterly basis.

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 6.3.4.4 Co-chair the AI SG meetings with the SG Chair.
6.3.4.5 After the PAI role has ended, the outgoing PAI shall join the SG after six months outside of
their role for a total of two.
6.3.5 SG Meetings
6.3.5.1 Final responsible in AI for the alignment of the global plenary.
6.3.5.2 Global network Engagement & Communication.
6.3.5.3 Ensure global communication with MCPs and their engagement in global direction and
dialogues.
6.3.5.4 Being the end representative of AIESEC International towards the global network.
6.3.5.5 Management of personal social media channels within AIESEC International to ensure
alignment with AIESEC values and AIESEC's Internal Code of Ethics.
6.3.5.6 Final responsible in AI for the alignment of the global plenary towards the achievement of
AIESEC's Mid Term Direction while ensuring alignment to the AIESEC Way.
6.3.5.7 Ensure global network issues are addressed and ensure the global plenary approves
solutions that are deemed necessary.
6.3.6 External Representation
6.3.6.1 Final representative of AIESEC globally to external stakeholders (global partners, youth
organizations, UN, alumni, etc.)
6.3.6.2 Represent AIESEC in key external events (managed in synergy with the AI VP Public
Relations).
6.3.6.3 Co-manage AIESEC and UN partnership together with the AI VP Public Relations.

6.4 Role of the Vice Presidents (AI VPs)

6.4.1 The Vice Presidents of AIESEC International shall be responsible for the coordination and
development of the global activities of Members. The Vice Presidents, together with the PAI, shall be
responsible for the direction of AIESEC.
6.4.2 The Vice President Finance shall be responsible for the financial operations and obligations of the
Association.
6.4.3 The VP Finance, VP Business Development, VP Information Management and VP Organizational
Strategy positions will be open for two years - subject to the provision of their intent for applying to the role
of PAI in the consecutive term and/or to the decision making of team selection by the PAI.

6.5 AI Financial management

6.5.1 Management Team

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 6.5.1.1 A Management Team shall be created every year for the purpose of managing the finances
of AI.
6.5.1.2 The Management Team shall consist of the PAI, the VPF, the VPPD, the VPIM and at least
one other AI team member at the discretion of the PAI, this is to be ratified by the global plenary at every IC
for the incoming Management Team.
6.5.1.3 The Management team shall meet every quarter to review the quarterly report, the budget
situation, the cash flow and the expense priorities for the following quarter.
6.5.2 AI Budget
6.5.2.1 The budget is the basis for the administration of all income and expenditure and for the
audit.
6.5.2.2 The AI budget shall be set up in Euro and Canadian dollars.
6.5.2.3 Al must present budget information for the following financial year at IPM and select a
Finance Subcommittee to give recommendations to be put forward in legislation on:
6.5.2.3.1 Total amount of global service fees;
6.5.2.3.2 Method of calculation for global fee;
6.5.2.3.3 Total cost per service.
6.5.2.4 The Finance Subcommittee shall also give general recommendations on the budget.
6.5.2.5 AI shall send a draft of the proposed budget for the coming year at least 7 days before every
IPM starts and an updated budget at least 7 days before IC starts.
6.5.2.6 A final budget shall be presented at IPM. This will require ratification by simple majority.
6.5.2.7 New services should be proposed separate from the budget and there should be a clear
decision made explicitly about spending on new services separate from ratification of the budget.
6.5.2.8 The budget may be changed at IC. If the update increases the Member fees then a 2/3 (two
thirds) majority is needed to approve the change.
6.5.2.9 Any unbudgeted expenses in excess of EUR 1000 must be approved by the Management
Team, and unbudgeted expenses in excess of EUR 8,000 should be reported to the Finance Subcommittee.
6.5.2.10 The PAI and the VPF shall have a veto power on all budgeted and AI approved
expenditures in excess of EUR 2000. In the event of a disagreement between the PAI and VPF, the PAI has
the ultimate veto power over these expenditures.
6.5.2.11 Any allocation of fundraising done by AIESEC International that goes over 10% of the
approved budget, shall be approved by the Finance Subcommittee.
6.5.3 Reporting
6.5.3.1 AIESEC International shall report an analysis of the AI financial situation to the Members on
a quarterly basis. The budget vs. actual analysis may be sent to a Member upon request.
6.5.3.2 AI shall present an up-to-date financial report at IC and IPM to be distributed at least 7 days
prior to the meeting.

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 6.5.3.3 This report should contain:
6.5.3.3.1 AI Profit & Loss statement showing budget variance (in Euro and Canadian
Dollars);
6.5.3.3.2 Analysis of AI financial situation, including main achievements, challenges and
next steps.
6.5.4 Funds
6.5.4.1 No internal fund managed partially or totally by AIESEC International can be used for an
amount higher than the amount secured by that fund.
6.5.5 AIESEC International Reserves
6.5.5.1 AIESEC International must maintain a minimum level of reserves of 750,000 EUR, to be held
in the form of liquid assets.
6.5.5.2 In the event that the reserves fall below this value, AIESEC International must take
immediate action and the Supervisory Group, Internal Auditors and the Global Plenary shall be informed
immediately. The matter shall also be reported during the next ILM, together with a timeline for the
re-establishment of the required minimum level.
6.5.5.3 The Operational Reserve fund is to be used in order to support urgent needs in AIESEC
International’s budget.
6.5.5.4 The Strategic Reserves Fund will be used to support Global priority areas. Any profit being
made from the interest of the AI reserves is to be allocated to the Operational Reserves Fund or to the
Strategic Reserves. The decision is to be taken by the Management Team of AIESEC International.
6.5.6 Investment policy
6.5.6.1 The Management Board of Stichting AIESEC International is responsible for managing the
investment portfolio of the organization with the assistance and advice of Van Lanschot.
6.5.6.2 As AIESEC is a not for profit organization, the ultimate objective of the investment portfolio
held is value preservation as the money needs to be safeguarded from risk. As such, the investments AIESEC
International holds should be very low risk and with short-medium term maturity levels. Instruments such as
fixed term deposits, short-medium term government or AAA rated corporate bonds are suitable, however
funds and stock related investments should be avoided in favor of more low risk investments. The portfolio
should be EUR based to avoid unnecessary cross currency risks.
6.5.6.3 If in the future AIESEC International wishes to change this approach, AI must write a formal
letter detailing the reasons for the proposed change in approach and risk appetite. This letter must be
accompanied by a statement of approval by the Supervisory Group of AIESEC International (can be as an
email attachment).
6.5.7 VPF

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 6.5.7.1 The outgoing AIVPF shall have an advisory role in the AI financial management, and be
physically present in AIESEC International at least once during the following term. It is recommended this
period to be the same as one of the internal audits.
6.5.7.2 AI is to store a (digital) copy of their contract collections outside the AI office.
6.5.7 AIESEC International Procurement Policy
6.5.7.1 AIESEC International must follow a procurement procedure when contracting goods of
services ensuring that orders are handled evaluating what purchases are required offering the best deals,
that purchases to be made do not exceed the budget provided and that purchased goods and services
conform with the quantity and price specified in the orders.
6.5.7.2 All purchases on a global level shall be approved by the AIVPF who is the final responsible to
ensure the proper application of the global procurement procedures. All purchases will save a purchase file
that must contain all the documents pertaining to each transaction.
6.5.7.3 For purchases equal to or under EUR 1000.- (one thousand Euros) no procurement
procedure is required to be applied, always ensuring the proper accountability of every transaction.
6.5.7.4 For purchases over EUR 1000.- (one thousand Euros) up to EUR 10,000.- (ten thousand
Euros) a price survey by telephone of two suppliers will be sufficient for determining the supplier. For
purchases over EUR 10,000.- (ten thousand Euros) a quotation/invoice shall be obtained from three
suppliers. Purchases from a sole source shall be explained in the purchase file.
6.5.7.5 Use of competitive bidding shall be a priority practice. The first criterion in choosing a
supplier shall be the lowest bid. However, if a supplier does not provide the required level of service or an
adequate guarantee, then other criteria shall also be considered; in this case the purchase file must contain
the reasons for the lowest bid not to be chosen.

6.6 Information Management

6.6.1 All members and AIESEC International will comply with the Information Management
Principles.
6.6.2 Refer to Global Compendium Supporting Document Art. 6.1 for the data privacy and terms of
use policies on global information systems and Art. 6.2 for the IM principles.

6.7 Information Management Subcommittee (IMSC)

6.7.1 The IM Subcommittee is responsible for reviewing the global Information Management short and
long-term strategy and providing recommendations to the Global Plenary about the needs of the
organization in regards to information management.
6.7.2 The role of the IM Subcommittee is:

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 6.7.2.1 To review and provide recommendations to the Global Plenary on issues related to
information management.
6.7.2.2 To ensure proper governance over the Global Information Systems fund.
6.7.2.3 To provide and/or ensure transparency and reporting to the global plenary regarding
information management investments being made by AIESEC International.
6.7.2.4 Provide and/or gather inputs to AIESEC International for matters related to
experience.aiesec.org and opportunities.aiesec.org, in regards to accessibility, security breaches, and the
overall operations of the system.
6.7.2.5 In regards with the above, a monthly Information Management report shall be made and
presented to the global plenary in collaboration with the AI IM sub-team. This report should include at least:
6.7.2.5.1 Updates on information management investments being made by AIESEC
International (expenses of the month);
6.7.2.5.2 Health state of experience.aiesec.org and opportunities.aiesec.org:
6.7.2.5.2.1 Common challenges in the system and the possible resolutions;
6.7.2.5.2.2 Current state of the system’s development (the progress for each
module);
6.7.2.5.2.3 Upcoming features to be developed;
6.7.2.5.2.4 Update on the timeline of development.

6.8 Internal Audit

2.8.1 Role and Purpose

2.8.1.1 The role of the internal audit for AIESEC is to provide objective and continuous assurance of
key governance, risk management, and compliance processes within the association.
2.8.1.2 The internal audit activity must evaluate AIESEC’s risk exposures and the adequacy and
effectiveness of controls in responding to those risks regarding the:
2.8.1.2.1 Effectiveness and efficiency of operations and processes;
2.8.1.2.2 Safeguarding of assets;
2.8.1.2.3 Compliance with laws, regulations, and contracts;
2.8.1.2.4 Refer to Global Compendium Supporting Document Art. 6.3. for detailed
information regarding the Internal Audit, the authorities the Internal Auditor has.
2.8.2 Score of the Internal Audit

Level AIESEC International

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 Constant areas Finance Management in regards to various areas of operations
Data and Information Management
Compliance & Legalities

Ad-hoc project-based Internal Audit Engagements based on ad-hoc request from a Global
Subcommittee or AIESEC International having the minimum of objectives,
scope, authority, timeline and funding details to be included in the proposal
for approval by Global Plenary (or if requested by AI to be approved by AI
Management Team)

2.8.3 Responsibilities of the Internal Audit

Level AIESEC International

Audit 1. Create the AI internal audit plan for the term and agree with the AI
and Legal Subcommittee on it latest at IC each year. The plan
should include clear objectives and timeline of the activities.
2. Continuously and systematically assess AI’s risk exposure and the
adequacy and effectiveness of controls in responding to risks
deriving from:
a. Strategic investments and operational expenditures;
b. Compliance with laws, regulations, contracts;
c. Compliance with AIESEC International policies and all
related aspects of the International Compendium;
d. Data security, protection and authorization;
e. Other special items including but not limited to: consulting
agreements, licenses, Intellectual property, web-hosting,
etc.
3. Evaluate the progress of execution of Mandates by the Global
Plenary to AI.

The above activities should be performed in the course of two audit cycles
per term.

The first one covers the period of June 1st till November 30th and the

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 second one covers the period of December 1st till May 31st. The progress
report should be presented together with the Internal Auditors report.

Reporting 4. In the end of each audit cycle the Internal auditors should produce
the following reports:
a. Summary of the findings and list of recommendations to
the AI management team at the last day of the audit;
b. Detailed report and summary of the findings and list of
recommendations to the Global Plenary;
The detailed report should be released within 10 days of the physical audit
and at least 10 days before IPM/IC.

6.9 External Audit

6.9.1 AI must have its accounts formally audited annually by a qualified public auditor.
6.9.2 The external audit must be held before IC and the results released to the Global Plenary at IC.
6.9.3 A summary must be included in the organization’s Annual Report.
6.9.4 The incoming and outgoing VP Finance shall participate in the External Audit.
6.9.5 The accrued expenses and deferred income will be fixed in collaboration with the outgoing and
incoming PAI and VP Finance (and VPER for deferred income).
6.9.6 The Global Plenary is the final decision-making body for the selection of an external auditor.

6.10 Supervisory Group

6.10.1 Refer to the Global Compendium Supporting Document Art. 7.6. to see the structure of the
Supervisory Group
6.10.2 Role:
6.10.2.1 Ensure the organization remains compliant with The AIESEC Way;
6.10.2.2 The SG shall not have any decision-making power, or legal and financial responsibility for
the operations of AIESEC International;
6.10.2.3 Monitoring the main activities of AI and assessing performance of AI based on stated
targets for the year which are included in the AI year plan;
6.10.2.4 Giving strategic advice based on their assessment of AI’s performance and results;
6.10.2.5 Ensure the organization upholds and promotes equal opportunities and diversity in all
areas of operation;
6.10.2.6 Holding AIESEC International accountable to provision of defined Global Services;

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 6.10.2.7 Monitoring the finances of AI and advising major investments and exceptional
expenditure;
6.10.2.8 In case revenue targets are not being met, the SG will propose measures of cost cutting or
changes in the revenue generation strategy;
6.10.2.9 Overseeing legal and governance related issues;
6.10.2.10 Advising and guiding AI on the AI team structure;
6.10.2.11 Providing guidance, referrals, and recommendations in order to increase AIESEC’s
network in a sustainable way;
6.10.2.12 Supporting and building networks to generate leads for BD purposes;
6.10.2.13 Reporting to Global Plenary on AI’s performance and presenting recommendations as
necessary.
6.10.3 Chairperson
6.10.3.1 Role (in addition to SG member role):
6.10.3.1.1 Ensure that all SG members can contribute at meetings;
6.10.3.1.2 Ensure the efficient conduct of business during SG meetings;
6.10.3.1.3 Provide feedback, coaching and performance appraisal to the PAI;
6.10.3.1.4 Ensure the appraisal of SG and individuals performance adheres to the Code of
Ethics and these terms of reference;
6.10.3.1.5 Resolve potential conflicts of interest as they arise.
6.10.4 Term of service
6.10.4.1 Each member shall have a renewable term of three years. [One or two year terms can be
agreed if seen fit by the SG member, the PAI and the SG chair].
6.10.4.2 At the end of the term, the contribution and performance of the individual will be reviewed
by the SG Chair, PAI and VPF, and a decision made whether to reappoint the SG member for another term.
6.10.4.3 SG members can be expected to renew membership once (provided satisfactory
contribution and performance), resulting in a total term of 6 years.
6.10.4.4 An SG member may be invited to continue on the SG for more than 6 years, if there is an
exceptional reason to do so.
6.10.5 Performance and attendance standards expected
6.10.5.1 Commitment on behalf of the members of the Supervisory Group is of great importance in
enabling the Supervisory Group to fulfill its role. The following outline the expectations of an SG Member:
6.10.5.1.1 Uphold the values and objectives of the organization;
6.10.5.1.2 Act with integrity, and avoid or declare personal conflicts of interest;
6.10.5.1.3 Ensure compliance with the AIESEC Code of Ethics;
6.10.5.1.4 Act reasonably at all times in the interests of the organization and of its
members (collectively and individually);

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 6.10.5.1.5 Declare any potential conflicts of interest to the Chair as soon as they arise and
ensure that all advice is given considering the best interest of AIESEC;
6.10.5.1.6 Act personally, and not as the representative of any group, organization or
company; regardless of how nominated;
6.10.5.1.7 Remain independent and not under the control of any external organization or
individual;
6.10.5.1.8 Attend at least 3 Supervisory Group meetings per year. These meetings will be
held in the office of AIESEC International;
6.10.5.1.9 Complete a three-year term of membership in the Supervisory Group (and
remain open to reappointment);
6.10.5.1.10 Complete all necessary preparation prior to the Supervisory Group meetings
included reading the SG report sent in advance;
6.10.5.1.11 Be available between SG meetings for advice, guidance and support for specific
topics and areas;
6.10.5.1.2 Remain open and accountable, sharing information with the Global Plenary as
necessary, and ensure sensitive information remains confidential within the SG;
6.10.5.1.3 Respect and support AIESEC International even if specific decisions are not in
accordance with collective or individual SG advice.
6.10.6 Meetings
6.10.6.1 The SG shall meet with AI four times per year, in January, April, July and October.
6.10.6.2 Meetings are usually held in the office of AIESEC International.
6.10.6.3 The AI VPF and PAI are responsible for drafting the agenda to be sent to the SG Chair for
feedback and further input.
6.10.6.4 An update on the current financial situation (income and expenditure) and operational
areas of focus should be sent at least one week before the meeting for review by SG members.
Recommendations should be given by the SG, and followed up by AI.
6.10.6.5 A revised budget shall be presented to the SG in the July Meeting and re-approved by the
Global Plenary at IC.
6.10.6.6 Minutes from the SG meetings shall be released to the SG within two weeks of the
meeting, and to the Global Plenary within one month of the meeting.
6.10.7 Interaction with other governance bodies
6.10.7.1 Global Plenary
6.10.7.1.1 The SG shall report to the Global Plenary during the International Congress and
International Presidents’ Meeting on the performance of AI, in terms of operational and financial
situation. The report shall be presented by the Chairman of the SG or another SG member as proxy.
6.10.7.1.2 At IC the report should include a written assessment on:

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 6.10.7.1.2.1 SG evaluation of previous AI team final performance and plan
delivery;
6.10.7.1.2.2 SG evaluation of any challenges new AI team is taking over from
previous team;
6.10.7.1.2.3 SG evaluation of AI financial management;
6.10.7.1.2.4 SG evaluation of AI strategy and plan as set out.
6.10.7.1.3 At IPM the report should include a written assessment on
6.10.7.1.3.1 SG evaluation of AI strategy;
6.10.7.1.3.2 SG evaluation of AI plan delivery;
6.10.7.1.3.3 SG evaluation AI financial management.
6.10.7.1.4 If the Chairman of the SG is not present in an ILM, another member of the SG
shall present the report. If no member of the SG can attend the respective ILM, AI shall make the
presentation on their behalf and one or several SG members will be connected by conference call.
6.10.8 Whistleblowing policy
6.10.8.1 A direct email address must exist for any AIESEC member to contact the SG to report
matters of concern such as risks to the organization or mismanagement. This policy operates in the same
way as stated in the AIESEC Code of Ethics, and the email address must be available to all members of
AIESEC.
6.10.9 Interaction with AI
6.10.9.1 A pre-meeting is held before each SG meeting between the SG and PAI, and any additional
team members they feel necessary to involve.
6.10.9.2 As many members of the AI team as possible shall attend the SG meetings.
6.10.9.3 AI members will from time to contact SG members to ask for references or advice on
various topics.

6.11 Global Support Teams

6.11.1 AIESEC International may recruit volunteers to help with the implementation of organizational
strategy. The opportunities shall be open to all AIESEC members and Alumni.

6.12 Premium Partners Council (PPC)

6.12.1 A Premium Partners Council shall convene to provide input and feedback to AIESEC International
and to support it in increasing the results and performance of the organization. The Council role is:
6.12.1 To provide input and advice on major areas of activity and development of the association;
6.12.2 To provide specialist support in certain areas.

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6.12.2 The Premium Partner Council will consist of between twenty to twenty five people with the
following profiles:
6.12.2.1 Representatives of partner and sponsor organizations of AIESEC;
6.12.2.2 Representatives from organizations that are involved with or support the activities of the
organization (non-governmental or similar organizations);
6.12.2.3 Individuals and alumni who provide specialist advice to AIESEC International, in areas that
it is required for AIESEC International’s activities;
6.12.2.4 Unpaid individual consultants.

6.13 Legal Subcommittee (LSC)

6.13.1 The role of the Legal Subcommittee is to:

6.13.1.1 The role of the Legal Subcommittee is to:
6.13.1.1.1 Act as the main point of contact for the global plenary in regards to any
legalities, legal status or legal challenges faced in the Entities.
6.13.1.1.2 Send a report to the Governance & Legislation Subcommittee by 15 th of July
and 31st of December that includes the performance of the LSC and shall include any legal
challenges faced by the Entities (including Expansion Initiatives, Official Expansions & Expansions)
and any advice that was sought by the Entities Additionally, the before each ILM on.
6.13.1.1.3 Provide findings to the Global Plenary based on the output from SOGA on
questions regarding legalities.
6.13.1.1.4 Recruit and manage the Internal Auditor of AIESEC International and take care
of cases/complaints regarding the Internal Auditor Code of Conduct and provide recommendations
to the Global Plenary.
6.13.1.1.5 Together with the support of AIESEC International, feedback and approval of
the Internal Auditor Survey before it being released to the plenary. Together with support of
AIESEC International, feedback the Internal Auditor Survey Output before it's being released to the
plenary.
6.13.1.1.6 Communicate with the Internal Auditor in regards to the AI physical internal
audit, and together with AIESEC International, feedback the output before it is being released to
the Global Plenary.
6.13.1.1.7 Assist the Global Plenary in regards to their applications for the Legal
Management Fund.
6.13.1.1.8 Provide recommendations and inputs to Entities lacking trademark registration.
6.13.1.1.9 Be involved in the recruitment and selection of the chairs of the International
Control Board and Global Finance Board.

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 6.13.1.1.10 Manage the disbandment process of Entities according to the outlined process
and report the progress to the global plenary.

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7. PIPELINE MANAGEMENT

7.1 AIESEC International

7.1.1 Election of PAI and AI VPs

7.1.1.1 To stand as a candidate for President of AIESEC International, one is required to do the
following:
7.1.1.1.1 Submission of an application to AI by the application deadline which shall be in
January. The application will be released no later than the 30th of November.
7.1.1.2 To stand as a candidate for Vice President for AIESEC International, the applicant is
required to do the following:
7.1.1.2.1 Submission of an application to AI by the application deadline which can be no
later than 10 days after IPM. AI will announce the deadline and distribute applications by 15th of
December each year.
7.1.1.3 The President of AIESEC International will be elected during IPM.
7.1.1.4 Refer to Global Compendium Supporting Document Art. 7.1 for the detailed process of
standing for AIESEC International and an explanation regarding the replacement of AI Members.

7.2 Global External Bodies

7.2.1 The roles of External Bodies can only be changed once a year during IPM.
7.2.2 There are two (2) Global External Bodies: International Control Board and Global Finance Board.
7.2.3 The composition of the two External Bodies is regulated in the Global Compendium (article 4.1.3
Global Finance Board) and the Global Compendium Supporting Document (article 3.6. ICB).
7.2.4 Selection of Global External Body Chairs:
7.2.4.1 AIESEC International shall, during regular cycles of operations, open applications for the
chairmanship of the External Body no later than 14 days after IC but not after September 20th. A selection
committee consisting of current Global External Body Chair, AIESEC International VP Finance, respective
AIESEC International VP responsibles for Global External Body coordination and Legal Subcommittee Chair
shall manage the selection process and decision.
7.2.4.2 The term of global board chairs and the management team can be extended for 1 more year,
totaling a 2 years term.
7.2.4.3 The chair must announce its extension formally to AI before the DDL to launch applications
for chairs, explicit in the clause 6.2.2.2.1.

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 7.2.4.4 The extension of the team leaders will depend on the agreement of the chair elected for the
term.
7.2.5 Reporting of Global External Body Chairs:
7.2.5.1 Every External Body Chair must submit to the Legal Subcommittee the following reports
with at least the budget plan, key activities and quarterly MoS and KPIs:
(a) pre-planning report for upcoming term no later than 15 days before IC
(b) year-long plan for upcoming term no later than 15 days after planning days but before August
31st.
7.2.5.2 External Body Chairs must submit a Progress Report not later than 15 days after the end of
every quarter of their term to the Legal Subcommittee outlining at least the planned vs. achieved activities,
MoS and KPIs, and Budget Execution.
7.2.5.3 The Legal Subcommittee Chair sends the Progress Reports to the Governance & Legislation
Subcommittee, together with findings that result out of processing the reports, by June 25th and January
25th. These reports must outline at least the planned vs. achieved activities, MoS and KPIs, and Budget
Execution.

7.3 Global Subcommittees

7.3.1 The seven (7) Global Subcommittees in AIESEC are: Finance, Information Management, Legal,
Governance and Legislation, Membership, Ethics and ILM and they are each led by a Chair. The Global
Subcommittee Chairs are required to meet one day prior to IPM and IC to prepare legislation fairs.
7.3.2 The structure of the seven Global Subcommittees is regulated in the Global Compendium Supporting
Document Art. 7.2.
7.3.2.1 Selection of Global Subcommittee Chairs:
7.3.2.1.1 Of all Subcommittees except Finance Subcommittee:
7.3.2.1.1.1 AIESEC International and the Current Chair of the respective
Subcommittee (and current Membership Subcommittee Chair in the case of GEC) release
the applications for the position of Global Subcommittee Chair on the 15th of March.
7.3.2.1.1.2 In case that the Current Chair of the Subcommittee is not responsive
for a period of 10 days after having been contacted by AIESEC International, the latter has
the prerogative to select the Subcommittee Chair.
7.3.2.1.1.3 The content of the application is to be found in the Global Compendium
Supporting Document.
7.3.2.1.2 Of Finance Subcommittee:
7.3.2.1.2.1 AIESEC International shall select the Finance Subcommittee members.

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 7.3.2.1.2.2 The Finance Subcommittee shall select the Chair at its first meeting,
who shall lead the Subcommittee together with the AIESEC International VP Finance (or
other AIESEC International member).
7.3.2.1.2.3 The Current Chair of the Finance Subcommittee shall be involved in the
selection of the next Finance Subcommittee members, as the Subcommittee should
represent the Global Plenary.
7.3.2.1.2.4 The content of the application is to be found in the Global Compendium
Supporting Document
7.3.2.2 Reporting of Global Subcommittee Chairs:
7.3.2.2.1 Every Subcommittee Chair must submit to the Global Plenary for approval a
term-long (i.e. one year) plan for their Subcommittee including key drivers and activities, as well as
quarterly MoS and KPIs no later than 15 days before IC.
7.3.2.2.2 Subcommittee Chairs must submit a Progress Report at the end of every quarter
of their term to the Governance and Legislation Subcommittee outlining the planned vs. achieved
activities, MoS and KPIs.
7.3.2.2.3 Governance and Legislation Subcommittee Chair releases the Progress Reports
to the Global Plenary.
7.3.3 Global Subcommittee and External Body Knowledge Management
7.3.3.1 Transition has to be concluded latest by 30 June.
7.3.3.2 The Chair of the Global Subcommittee or External Body must create and upload the
transition plan on the information platform in use latest by 30 May.
7.3.3.3 The outgoing Chair must deliver and transmit all previous Subcommittee or External Body
jobs done and mandates assigned by the Global Plenary, as well as which other working topics have to be
addressed during the transition timeline to the incoming Chair.
7.3.3.4 The outgoing Chair must upload all documents and information handled during his/her term
and must update the links of these documents and information on the information system in use.

7.4 Internal Auditor

7.4.1 The Internal Audit Team shall consist of one Internal Auditor appointed for a term of 1 year, which can
be renewed.
7.4.2 The Internal Auditor shall have a full-time position.
7.4.3 The profile of the Internal Auditor, duration of the term, application package, Internal Auditor Code of
Conduct and confidentiality of data are regulated in the Global Compendium Supporting Document Art. 7.5.
7.4.4 Selection of the Internal Auditor

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 7.4.4.1 The Legal Subcommittee, after receiving input from AIESEC International and the current
internal auditor(s) should open the application process no later than 31 October for the auditor with the
term between 1 January and 31 December.
7.4.4.2 AIESEC International is authorized by the Global Plenary to publish the application on
online job portals, newspapers and any other such publications in order to ensure that there are sufficient
applicants.
7.4.4.3 A Review Panel with representatives of both the Legal Subcommittee and Global Finance
Board shall review the candidates in the course of two weeks after the application deadline has passed.
7.4.4.4 The selection of the Internal Auditors shall be done by the Legal Subcommittee with
recommendation given by the Global Finance Board.
7.4.5 Resignation or removal of the Internal Auditor
7.4.5.1 In case of an Internal Auditor wanting to resign, they needs to inform the Legal
Subcommittee in writing at least two months in advance.
7.4.5.2 The Global Plenary can remove an Internal Auditor at any time if at least 2/3 of the voting
Members agree there is reason to do so.

7.5 Supervisory Group

7.5.1 Refer to the Global Compendium Supporting Document Art. 7.6. to see the structure of the
Supervisory Group.
7.5.2 Selection of the Chair
7.5.2.1 Term of service
7.5.2.1.1 The Chair of the SG is a three year term.
7.5.2.1.2 Unless in exceptional circumstances, a new chair will be selected after three
years.
7.5.2.2 Selection process
7.5.2.2.1 The current Chair of the SG will propose a successor to the role to the remaining
SG members, PAI and VPF. The PAI with advice of the current SG members (not the current chair)
will then take the final selection decision.
7.5.3 Selection Process of SG Members
7.5.3.1 Due to the nature of this governance body, new members must be proposed through one of
the following channels:
7.5.3.1.1 Recommended by a current SG member;
7.5.3.1.2 Recommended by a current AI member;
7.5.3.1.3 Recommended by a current MCP/MC member.

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 7.5.3.2 Recommendations can be made at any time, however must be received in writing by the
Chair of the SG and PAI and contain the following information:
7.5.3.2.1 Name;
7.5.3.2.2 Current position and organization;
7.5.3.2.3 Professional background (including areas of expertise and geographic location);
7.5.3.2.4 Past experience with AIESEC;
7.5.3.2.5 The results of any conversation around availability and possible commitment
level.
7.5.3.3 The SG Chair will then discuss the recommendation with the SG, PAI and VPF to assess the
recommendation considering:
7.5.3.3.1 Current available seats on the SG;
7.5.3.3.2 Diversity goals;
7.5.3.3.3 Potential conflicts of interest.
7.5.3.4 The SG Chair, PAI and VPF will make the final decision on whether to pursue the
recommendation or not.
7.5.3.4.1 If the recommendation is pursued, the SG Chair will:
7.5.3.4.1.1 Contact the person recommending the individual for an introduction;
7.5.3.4.1.2 Contact the potential SG member and work with the PAI to conduct an
introduction to AIESEC and AI;
7.5.3.4.1.3 Ensure the potential SG member is clear on the expectations and
commitment level of the role;
7.5.3.4.1.4 Invite the potential SG member to a trial SG meeting to experience the
role.
7.5.3.4.2 If after the first meeting the potential SG member wishes to join the SG, and the
SG and AI feel the addition would bring significant value to the SG, the SG Chair will formally invite
the individual to join the AI SG.
7.5.3.5 The Supervisory Group is composed of diverse individuals with the intention to provide
guidance and support to AIESEC International. No exclusivity of industry or background is therefore
considered when selecting new SG members. Should an SG member wish to voice discomfort or
disagreement with an appointment, for whichever reason, this should be done in writing to the SG chair and
the PAI immediately upon the initial trial meeting.

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