The Audit and Risk Committee (ARC) comprises six Board members. Meetings are attended by the External as well as the Internal Auditors, the Chief Executive, Chief Investment Officer, Chief Financial Officer, and the Executive Manager: Risk and Compliance. Other members of staff attend by invitation. External and Internal Auditors have unrestricted access to the Chairman of the committee as well as to the Chairman of the Board.
The ARC is constituted as a committee of the Board of Trustees and serves in an advisory capacity thereto. It assists the Board to discharge its duties relating to the safeguarding of EPPF assets, monitoring the operation of systems and controls, review of financial information and the preparation of annual financial statements which are provided to EPPF stakeholders and others. It reviews the activities of Internal Audit, the function of which has been outsourced. The ARC is also responsible for the evaluation of the independence, objectivity, and effectiveness of the External and Internal Auditors, as well as for the review of accounting and auditing concerns identified by External and Internal Audit.
The ARC assumes the responsibility for the governance of the EPPF’s information technology and aligns it with the performance and sustainability objectives of the EPPF.