The Audit and Risk Committee (ARC) comprises four Board members and one Independent Expert. Meetings are attended by external and the internal auditors, the Chief Executive/Principal Officer, Chief Investment Officer, Chief Financial Officer, the Executive: Governance and Assurance and Executive Information Technology. Company Secretariat provides governance support and guidance to the Committee. Other members of staff attend by invitation. External and internal auditors have unrestricted access to the Chairperson of the committee as well as to the Chairman of the Board. The ARC has an independent role with direct accountability to the Board. The role of the Committee is to provide oversight of the effectiveness of the Fund’s financial, controls and risk management activities
It assists the Board with duties related to:
- Monitoring the operation of systems and controls
- Reviewing financial information
The ARC reviews the activities of External 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 aligning it with the performance and sustainability objectives of the EPPF.