Audit & Risk Committee
The Audit & Risk Committee’s main role is to advise the BIFM Board on matters relating to the external audit; risk management and internal controls assurance; the integrity of financial statements; the findings and recommendations of any investigations requested by them and to deal with any similar matters as the Board may direct.
The Audit Committee will achieve this in an advisory, non-operational role by providing a “check and balance” approach across operational processes and procedures of the Institute through a defined audit “monitoring and reporting” process, and by reporting breaches or other infringements as appropriate to the Board.
A working liaison with the Constitution and Ethics Committee will be maintained and requests to supply information and situation reports relevant to the Constitution and Ethics Committee’s own undertakings will be accommodated. The Audit & Risk Chairman and Committee will maintain a strong working relationship with executive management in determining risks and offer observations and guidance on any process or procedural dysfunction where appropriate.