audit and risk committee charter · the rda’s board charter; and the audit and risk committee...

AuditandRiskCommitteeCharterReference:01/ARC/2019Date:29August19

Email:[email protected]:www.bvirecovery.vg

FirstFloor,RitterHouse,Wickham’sCayII,TortolaVG1110,VirginIslands

TableofAcronyms

BOD BoardofDirectorsCEO ChiefExecutiveOfficerCFO ChiefFinancialOfficerIAA InternalAuditActivityIIA InstituteofInternalAuditorsIPPF InternationalProfessionalPracticeFrameworkIT InformationTechnologyRDA RecoveryandDevelopmentAgency

TableofContents

1 OrganizationalPrinciples.........................................................................................................1

1.1 Introduction.....................................................................................................................1

1.2 Background......................................................................................................................1

1.3 Purpose............................................................................................................................1

1.4 Authority..........................................................................................................................2

1.5 CompositionoftheAuditandRiskCommittee................................................................2

1.6 TheChairoftheAuditandRiskCommittee.....................................................................3

1.7 TermsofOffice.................................................................................................................3

1.8 Quorum............................................................................................................................3

2 OperationalPrinciples.............................................................................................................4

2.1 AuditandRiskCommitteeValues....................................................................................4

2.2 Communications..............................................................................................................4

2.3 MeetingAgenda...............................................................................................................5

2.4 InformationRequirements..............................................................................................5

2.5 ExecutiveSessions...........................................................................................................5

2.6 PreparationandAttendance............................................................................................5

2.7 Conflict(s)ofInterest.......................................................................................................5

2.8 OrientationandTraining..................................................................................................5

3 OperationalProcedures..........................................................................................................5

3.1 Meetings..........................................................................................................................5

3.1.1 Minutes.....................................................................................................................6

3.1.2 RequiredAttendance................................................................................................6

3.1.3 SecretariatServices..................................................................................................6

3.2 RemunerationofCommitteeMembers...........................................................................6

3.3 Responsibilities................................................................................................................6

3.3.1 ValuesandEthics......................................................................................................6

3.3.2 OrganizationalGovernance......................................................................................6

3.3.3 RiskManagement.....................................................................................................7

3.3.4 Fraud.........................................................................................................................7

3.3.5 Control......................................................................................................................7

3.3.6 Compliance...............................................................................................................7

4 OversightoftheInternalAuditActivityandOtherAssuranceProviders................................8

4.1 InternalAuditActivity......................................................................................................8

4.1.1 InternalAuditCharterandResources......................................................................8

4.1.2 InternalAuditor’sPerformance................................................................................8

4.1.3 InternalAuditStrategyandPlan...............................................................................8

4.1.4 StandardsConformance...........................................................................................9

4.2 ExternalAuditors.............................................................................................................9

4.3 FinancialStatementsandPublicAccountabilityReporting...........................................10

5 OversightofRiskManagement.............................................................................................10

5.1 CommitteeResponsibilities...........................................................................................10

5.2 OtherResponsibilities....................................................................................................11

5.3 ReportingonAuditCommitteePerformance................................................................12

AuditandRiskCommitteeCharter www.bvirecovery.vg 1

1 OrganizationalPrinciples

1.1 IntroductionTheAuditandRiskCommittee(theCommittee)playsanimportantroleinprovidingoversightof the RDA’s governance, risk management, and internal control practices. This oversightmechanismalsoservestoprovideconfidenceintheintegrityofthesepractices.TheAuditandRiskCommitteeperformsitsrolebyprovidingindependentoversighttotheBOD.

1.2 Background

The Audit and Risk Committee was established on 13 December 2019 at the 20th BoardMeeting.

1.3 Purpose

The purpose of the Audit and Risk Committee is to assist the Board in the fulfilment of itscorporate governance duties in relation to risk management, internal controls and financialreporting.Thedutiesofthecommitteeshouldcovertheseareas:

• reviewRDA’sriskassessmentprocesstoensureeffectivenessandconsistency;• monitoractiontakenbymanagementinresponsetorisk;• examineandreviewallsystemsandmethodsofinternalandfinancialcontrol;• review reportsonanymaterial breakdownof controls and theadequacyofproposed

action;• overseeandevaluatetheperformanceoftheexternalauditorsandadvisetheBoardon

anychangesthatoughttobemadeintheirtermsofengagement;• manage the process for the tendering of the external audit and recommend to the

Board the appointment and re-appointment of the external auditors and the level oftheirfees;

• reviewandapprovetheannualauditplanandensureconsistencywiththescopeoftheauditengagement;

• reviewthefindingsoftheauditwiththeexternalauditors;• review the adequacy ofmanagement’s response to issues identified by audit activity

andmonitoragreedaction;• develop and implement a policy on the supply of non-audit services by the external

auditor;• monitor the integrityof theDirectorsReport, theannual financial statementsand the

business/operatingreviewbeforerecommendingthemtotheBoard;


• reviewandchallenge,asappropriate,RDA’saccountingpolicies, themethodsused toaccountforsignificantorunusualtransactionsandtheclarityofdisclosureintheannualfinancialstatements;

• reviewandapprove the statements tobe included in theannual reportandaccountsrelatingtogovernance,internalcontrol,andriskmanagement;

• reviewRDA’spolicyandproceduresforthepreventionanddetectionoffraud;• review RDA’s insurance arrangements, including directors’ and officers’ liability

insurance,toensurethatappropriatecoverisinplace;• undertake authorized investigations on behalf of the Board and advise on the findings and

recommendations.

1.4 Authority

TheAuditandRiskCommitteeChartersetsouttheauthorityoftheCommitteetocarryouttheresponsibilitiesestablishedforitbytheBOD.Indischargingitsresponsibilities,theCommitteewillhaveunrestrictedaccesstomembersofmanagement,employeesandrelevantinformationitconsidersnecessarytodischargeitsduties.TheCommitteealsowillhaveunrestrictedaccessto records, data, and reports. In the unlikely event that access to requested documents isdeniedduetolegalorconfidentialityreasons,theCommitteeand/ortheInternalAuditorwillfollowaprescribed,BODapproved,mechanismforresolutionofthematter.TheCommittee isentitled to receiveanyexplanatory information that itdeemsnecessary todischarge its responsibilities. The RDA’s management and staff should cooperate with theCommittee’srequests.TheCommitteemayengageindependentcounseland/orotheradvisersitdeemsnecessarytocarry out its duties. This will require additional resources that will need approval and anyengagementwithadditionalsupportmustfollowtheRDA’sprocurementprocess.TheCommitteeisempoweredto:

• Appoint, compensate and oversee all audit and non-audit services performed by

auditors, includingtheworkofanyregisteredpublicaccounting firmemployedbytheorganization;

• Resolve any disagreements betweenmanagement and the external auditor regardingfinancialreportingandothermatters;

• Pre-approveallauditingandnon-auditingservicesperformedbyauditors;and• Ensure the Internal Auditor is furnished with all tools and information needed to

conducthis/herbusiness.

1.5 CompositionoftheAuditandRiskCommittee

TheCommitteewill consistofat least threemembers thatare independentof theexecutivemembers of the RDA. Themembers should collectively possess enough knowledge of audit,


finance, project management, information technology, law, governance, risk and control toconduct their business. Because the responsibilities of the Committee evolve in response toregulatory, economic and reporting developments, it is important to periodically re-evaluatemembers’ competencies and the overall balance of skills on the Committee in response toemergingneeds.

1.6 TheChairoftheAuditandRiskCommittee

TheBODwilldesignatetheChairoftheCommitteefromitsmembershipandappointmentofCommitteemembers.ApersonmaybeamemberoftheCommitteewithoutbeingamembertheBOD.

1.7 TermsofOffice

ThetermofofficeforacommitteememberwillbedeterminedbytheBODuponappointment.Continuanceofmembershipwillbereviewedannually,iftheBODotherwisedirects.AmemberoftheCommitteemayberemovedatanytimebytheBOD.

1.8 Quorum

The quorum necessary for the transaction of business will be a simple majority of thenominatedmembers.

1.9 ThreeLinesofDefense

To ensure the effectiveness of RDA’s risk management framework, the board and seniormanagement need to be able to rely on adequate line functions – includingmonitoring andassurancefunctions–withintheRDA.The3linesofdefensemodelisoutlinedbelow:

• thefirstlineofdefense–functionsthatownandmanagerisk


• the second lineofdefense– functions thatoverseeor specialise in riskmanagement,compliance

• the third line of defense – functions that provide independent assurance, above all internalaudit.

1.9.1 FirstLineofDefense

Under the first line of defense, operational management has ownership, responsibility andaccountabilityfordirectlyassessing,controllingandmitigatingrisks.

1.9.2 SecondLineofDefense

The second line of defense consists of activities covered by several components of internalgovernance(compliance,riskmanagement,quality,ITandothercontroldepartments).Thislineofdefensemonitorsandfacilitatestheimplementationofeffectiveriskmanagementpracticesby operational management and assists the risk owners in reporting adequate risk relatedinformationupanddowntheorganization.

1.9.3 ThirdLineofDefense

InternalauditformstheRDA’sthirdlineofdefense.Anindependentinternalauditfunctionwill,througharisk-basedapproachto itswork,provideassurancetotheRDA’sboardofdirectorsand senior management. This assurance will cover how effectively the RDA assesses andmanagesitsrisksandwillincludeassuranceontheeffectivenessofthefirstandsecondlinesofdefense.Itencompassesallelementsofaninstitution’sriskmanagementframework(fromriskidentification,riskassessmentandresponse,tocommunicationofriskrelatedinformation)andall categories of organizational objectives: strategic, ethical, operational, reporting andcompliance.

2 OperationalPrinciples

2.1 AuditandRiskCommitteeValues

TheAuditandRiskCommitteewillconductitselfinaccordancewiththeRDA’sCodeofConduct;theRDA’sBoardCharter;andtheAuditandRiskCommitteeCharter.

2.2 Communications

TheCommitteeexpectsthatallcommunicationwithmanagementandstaffoftheRDA,aswellaswithanyexternalassuranceproviders,willbedirect,openandcomplete.The Committee’s Chairwill collaboratewith seniormanagement and the Internal Auditor toestablishaworkplantoensure that theresponsibilitiesof theCommitteearescheduledandexecuted.


2.3 MeetingAgenda

The Chair will establish agendas for Committee meetings in consultation with Committeemembers,AgencyseniormanagementandtheInternalAuditor.

2.4 InformationRequirements

The Committee will establish and communicate its requirements for information, which willinclude the nature, extent and timing of information. Information will be provided to theCommitteeatleastoneweekpriortoeachCommitteemeeting.

2.5 ExecutiveSessions

TheCommitteewillscheduleandhold,ifnecessary,aprivatesessionwiththeChiefExecutiveOfficer (CEO), the Chief Financial Officer (CFO), the Internal Auditor, external assuranceprovidersandotherstaffthattheCommitteemaydeemappropriateateachofitsmeetings.

2.6 PreparationandAttendance

CommitteemembersareobligatedtoprepareforandparticipateinCommitteemeetings.

2.7 Conflict(s)ofInterest

Committeemembersshouldadhere to theRDA’sCodeofConductandanyvaluesandethicsestablishedbytheRDA.ItistheresponsibilityofCommitteememberstodiscloseanyconflict(s)ofinterestorappearanceofaconflictofinteresttotheCommittee.Ifthereisanyquestionasto whethermembers should recuse themselves from a vote, the Committee should vote todeterminewhetherthemembershouldrecusehimselforherself.

2.8 OrientationandTraining

Committeememberswill receive formalorientation trainingon thepurposeandmandateoftheCommittee,RDA’sCodeofConductandontheVirginIslandRecoveryandDevelopmentAct(Act).Aprocessofcontinuingeducationwillbeestablished.

3 OperationalProcedures

3.1 Meetings

The Committeewillmeet at least four times annually ormore frequently as the Committeedeems necessary. The time frame between Committee meetings should not exceed fourmonths.


3.1.1 Minutes

Minutes will be prepared in accordance with applicable law, regulation, bylaws, policy,procedure and/or other applicable requirements.Meetingminutes will be provided in draftformat at least twoweeks after the Audit and Risk Committeemeeting. Onceminutes areagreed by the Committee, the Chair is to sign on behalf of the Committee to commit theminutestopermanentrecord.

3.1.2 RequiredAttendance

The Internal Auditor and the CFO are required to attend all Committeemeetings. The ChiefExecutive Officer, the Head of Finance, the external auditors, and other staff members asappropriate,shouldbeinvitedtoattendmeetings.

3.1.3 SecretariatServices

TheInternalAuditorortheChiefFinanceOfficerwillfacilitateandcoordinatemeetingsaswellasprovideancillarysupporttotheCommittee,astimeandresourcespermit.

3.2 RemunerationofCommitteeMembers

In accordance with the Recovery and Development Act, Committee members may bereimbursedfortravelandCommittee-relatedexpenses.

3.3 Responsibilities

ItistheresponsibilityoftheCommitteetoprovidetheBODwithindependent,objectiveadviceontheadequacyofmanagement’sarrangementswithrespecttothefollowingaspectsofthemanagementoftheRDA:

3.3.1 ValuesandEthics

To obtain reasonable assurance with respect to RDA’s values and ethics practices, theCommitteewill:

• Review and assess the policies, procedures and practices established by the BOD to

monitorconformancewithitsCodeofConductandethicalpoliciesbyallmanagersandstaffoftheRDA.

• ProvideoversightofthemechanismsestablishedbymanagementtoformandmaintainhighethicalstandardsforallmanagersandstaffoftheRDA.

• Reviewandprovideadviceonthesystemsandpracticesestablishedbymanagementtomonitor compliance with laws, regulations, policies and standards of ethical conductandidentifyanddealwithanylegalorethicalviolations.

3.3.2 OrganizationalGovernance

ToobtainreasonableassurancewithrespecttotheRDA’sgovernanceprocess,theCommitteewill reviewandprovideadviceon thegovernanceprocessestablishedandmaintainedwithintheRDAandtheproceduresinplacetoensurethattheyareoperatingasintended.


3.3.3 RiskManagement

TheCommitteewill reviewtheRDA’sPrincipalRisks1andassesswhetherkeyriskshavebeenidentifiedandareappropriatelybeingmanaged.

3.3.4 Fraud

Toobtainreasonableassurancewithrespect to theRDA’sprocedures for thepreventionanddetectionoffraud,theAuditandRiskCommitteewill:

• Overseemanagement‘sarrangementsforthepreventionanddeterrenceoffraud.• Ensurethatappropriateactionistakenagainstknownperpetratorsoffraud.• Challengemanagementand internalandexternalauditorstoensurethattheRDAhas

appropriateantifraudprogrammesandcontrolsinplacetoidentifypotentialfraudandensurethatinvestigationsareundertakeniffraudisdetected.

3.3.5 Control

Toobtain reasonableassurancewith respect to theadequacyandeffectivenessof theRDA’scontrols in responding to risks within the RDA’s governance, operations and informationsystems,theAuditandRiskCommitteewill:

• Consider the effectiveness of the RDA’s control framework, including information

technologysecurityandcontrol;• Review and provide advice on the control of the RDA, as a whole, and its individual

units;and• Receive reports on all matters of significance arising from work performed by other

providers of financial and internal control assurance to senior management and theBOD.

3.3.6 Compliance

TheCommitteewill:

• Review the effectiveness of the system for monitoring compliance with laws andregulations and the results of management’s investigations and follow-up (includingdisciplinaryaction)ofanyinstancesofnoncompliance;and

• Review the observations and conclusions of internal and external auditors and thefindingsofanyregulatoryagencies.

1PrincipalRisk(definition):ThekeyrisksoftheRDAwhichincludeabroadrangeofrisksuchaslegalandregulatorycompliance,reputational,institutional,technical,commercialandexternal.


4 Oversight of the Internal Audit ActivityandOtherAssuranceProviders

4.1 InternalAuditActivity

ToobtainreasonableassurancewithrespecttoworkoftheIAA,theAuditandRiskCommitteewillprovideoversightrelatedto:

4.1.1 InternalAuditCharterandResources

• ReviewandapprovetheInternalAuditCharteratleastannually.TheChartershouldbereviewed to ensure that it accurately reflects the IAA’s purpose, authority andresponsibility, consistent with the mandatory guidance of the IIA’s InternationalProfessional Practices Framework (IPPF) and the scope and nature of assurance andconsultingservices,aswellaschangesinthefinancial,riskmanagementandgovernanceprocessesoftheRDAandreflectsdevelopmentsintheprofessionalpracticeofinternalauditing.

• Advise theBODabout increasesanddecreases to the requested resources toachievethe Internal Audit plan. Evaluate whether any additional resources are neededpermanentlyorshouldbeprovidedthroughoutsourcing.

4.1.2 InternalAuditor’sPerformance

• AgreetheperformanceobjectivesthattheInternalAuditorwillbemeasuredagainst.• AdvisetheBODregardingthequalificationsandrecruitment,appointmentandremoval

oftheInternalAuditor.• Provide input to management related to evaluating the performance of the Internal

Auditor.

4.1.3 InternalAuditStrategyandPlan

• ReviewandprovideinputontheIAA’sstrategicplan,objectives,performancemeasuresandoutcomes.

• Review and approve proposed risk-based Internal Audit Plan and makerecommendationsconcerningInternalAuditprojects.

• Review and approve the Internal Audit Plan and engagement work programme,includingreviewinginternalauditresourcesnecessarytoachievetheplan.

• ReviewtheIAA’sperformancerelativetoitsauditplan.• ReviewInternalAuditreportsandothercommunicationstomanagement.• Review and trackmanagement’s action plans to address the results of Internal Audit

engagements.• Reviewandadvisemanagementontheresultsofanyspecialinvestigations.• Inquire of the Internal Auditorwhether any Internal Audit engagements or non-audit

engagementshavebeen completedbutnot reported to theCommittee; if so, inquirewhetheranymattersofsignificancearosefromsuchwork.


• InquireoftheInternalAuditorwhetheranyevidenceoffraudhasbeenidentifiedduringInternal Audit engagements and evaluate what additional actions, if any, should betaken.

4.1.4 StandardsConformance

• InquireoftheInternalAuditoraboutstepstakentoensurethattheIAAconformswiththe IIA’s International Standards for the Professional Practice of Internal Auditing(Standards).

• EnsurethattheIAAhasaqualityassuranceandimprovementprogrammeandthattheresultsoftheseperiodicassessmentsarepresentedtotheAuditandRiskCommittee.

• EnsurethattheIAAhasanexternalqualityassurancerevieweveryfiveyears.• Review the results of the independent external quality assurance reviewandmonitor

theimplementationoftheIAA’sactionplanstoaddressanyrecommendations.• Advise the BOD about any recommendations for the continuous improvement of the

IAA.• EnsurethattheInternalAuditcontributestothecontinualimprovementofRDAprocess

andperformance.

4.2 ExternalAuditors

Toobtainreasonableassurancewithrespecttotheworkoftheexternalassuranceproviders,the Audit and Risk Committee may meet with the external assurance providers during theplanningphaseof theengagement, thepresentationof theaudited financial statementsandthediscussionoftheresultsofengagementsandrecommendationsformanagement.TheCommitteewill:

• Review the external auditor’s proposed audit scope and approach, including

coordinationofauditeffortwiththeIAA;• Review the performance of the external auditors and exercise final approval on the

appointmentordischargeoftheauditors;• Obtain statements from the external auditors about their relationship with the

organization, including non-audit services performed in the past and discuss theinformationwithexternalauditorstoreviewandconfirmtheirindependence;

• Have regularly scheduled exclusive meetings with external auditors to discuss anysensitivematters;and

• Monitormanagement’sprogressonactionplans.

To obtain reasonable assurance that management has acted on the results andrecommendationsof internalandexternalauditengagements, theAuditandRiskCommitteewill regularly review reports on the progress of implementing approvedmanagement actionplansandauditrecommendationsresultingfromcompletedauditengagements.


4.3 FinancialStatementsandPublicAccountabilityReporting

The Committee is responsible for oversight of the independent audit of the RDA’s financialStatements including, but not limited to, overseeing the resolution of audit findings in areassuchasinternalcontrol,legal,regulatorycomplianceandethics.TheCommitteewill:

• Reviewwithmanagementandtheexternalauditorstheresultsofauditengagements,

includinganydifficultiesencountered;• Review significant accounting and reporting issues, including complex or unusual

transactions and highly judgmental areas, and recent professional and regulatorypronouncementsandunderstandtheirimpactonthefinancialstatements;

• Review the annual financial statements and consider whether they are complete,consistent with information known to Committee members and reflect appropriateaccountingprinciples;

• Reviewothersectionsoftheannualreportandconsidertheaccuracyandcompletenessoftheinformationbeforeitisreleased.

• Review with management and the external auditors all matters required to becommunicated to the Audit and Risk Committee under generally accepted externalauditingstandards.

• Understand strategies, assumptions and estimates thatmanagement has in preparingfinancialstatements,budgetsandinvestmentplan;and

• Review interim financial reports with management and consider whether they arecompleteandconsistentwiththeinformationknowntoCommitteemembers.

5 OversightofRiskManagement

5.1 CommitteeResponsibilities

The Committee will reviewmanagement’s recommendation for the RDA’s risk appetite andEnterprise Risk Policy (at least annually) and, upon agreement,will recommend them to theBODforapproval.TheCommitteewillreviewand,ifinagreement,approvethefollowing:

• Transactional risk-taking authorities delegated to management and any transactions

exceedingthosedelegatedauthorities(atleastannually);• Risk management policies, to ensure they remain appropriate to effectively identify,

assessandmanagetheRDA’sPrincipalRisks, in lightofchangingcircumstancesandinlightofhowthepoliciesandpracticeshaveperformed;and


• The risk limits for Principal Risks, as appropriate, delegated to management, anyexposures exceeding those delegated limits and the risk response plans to manageexposuresasappropriate.

TheCommitteewillreview:

• Reports, presentations and other information presented by the Agency’s Risk Senior

Manager and other members of management related to the RDA’s programs,procedures and controls in place to manage its Principal Risks and economic capitaladequacy(atleastannually);

• ReportsfromtheInternalAuditor,relatingtotheadequacyoftheRDA’sproceduresandcontrols to manage its Principal Risks, together with management’s responses andrelatingtotheeffectivenessoftheRDA’sprograms,proceduresandcontrolstomanageitsPrincipalRisks(atleastannually);

• Reports, presentations and other information related to the RDA’s principal riskexposures, economic capital adequacy and trends as identified by management(quarterly);

• Reports from management providing reasonable assurance that the RDA’s riskmanagement policies for Principal Risks are being complied with and, for instanceswheretheyarenotbeingcompliedwith,reviewandapproverequestsforexceptionsorrecommendedremedialactionplans(atleastannually);

• Reports, presentations and other information presented by the Risk Senior Managerrelating to the adequacy and independence of the RDA’s risk data aggregation andreportingpractices;

• Reportsfrommanagementontheimpactofincentivecompensationonrisktaking;• Theriskimpactofbusinessplanandnewbusinessinitiatives,includingconsistencywith

theapprovedriskappetiteandrelatedriskmanagementandcontrols;and• AssessmentsandreportsfrommanagementevaluatingtheRDA’sriskculture.

TheCommitteewill receive reports on theBusiness Continuity Programand the InformationServices RiskManagement Program,which includes Information Security,Global Privacy RiskManagementandtheOutsourcingPolicies.The Committee shall report to the BOD on matters referred to it by the BOD and on theproceedings following each meeting of the Committee. The report shall include findings,mattersidentifiedforspecificrecommendationtotheBOD,actionpointsandanyotherissuesasdeemedappropriate.TheBODremainscollectivelyresponsibleforthedecisionsofanysub-committee and shall review the effectiveness and performance of committees annually. TheBODmayberequiredtoestablishothercommitteesfromtimetotime.

5.2 OtherResponsibilities

Inaddition,theCommitteewill:


• PerformotheractivitiesrelatedtothisCharterasrequestedbytheBOD;• Instituteandoverseespecialinvestigationsasneeded;and• Regularlyevaluateitsperformanceandthatofitsindividualmembers.

5.3 ReportingonAuditandRiskCommittee’sPerformance

Thecommitteeshallarrangeforperiodicreviewsofitsownperformanceand,atleastannually,reviewitstermsofreferencetoensurethatitisoperatingeffectivelyandreporttotheBoardany changes it considers necessary. The report may be delivered during an Audit and RiskCommitteemeetingattendedbytheBODorduringaregularlyscheduledmeetingoftheBOD.Thereportshouldinclude:

• A summary of the work the Audit and Risk Committee performed to fully discharge its

responsibilitiesduringtheprecedingyear;• Asummaryofmanagement’sprogressinaddressingtheresultsofinternalandexternal

auditengagementreports;• Anoverall assessmentofmanagement’sprogress in addressing the resultsof internal

andexternalauditengagementreports;• Detailsofmeetings, includingthenumberofmeetingsheldduringtherelevantperiod

andthenumberofmeetingseachmemberattended;• Provide information required, if any, by new or emerging corporate governance

developments;and• ThecommitteemayreporttotheBODatanytimeregardinganyothermatteritdeems

ofsufficientimportance.

audit and risk committee charter · the rda’s board charter; and the audit and risk committee...

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