Committees: Board of Directors

Board members serve on committees to oversee and give guidance on different aspects of ADB's operations and governance.

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Audit & Risk Committee

The Audit & Risk Committee is responsible for assisting the Board of Directors to fulfill its responsibility of ensuring that ADB's financial reporting and internal controls, including audits, are adequate and undertaken efficiently.

In particular, the Committee:

  • advises on the appointment of ADB's independent Outside Auditor
  • reviews the annual audit plan of the Outside Auditor
  • reviews the annual audit plan of the internal General Auditor, who administratively reports to the President
  • meets regularly with both the General Auditor and the Outside Auditor on audit findings and recommendations, financial systems and internal controls, accounting and auditing standards, and coordination of internal and outside audit plans and activities
  • meets with the Controller, General Auditor, Outside Auditor and other ADB staff, as required, to review ADB's annual financial statements before these are published in the Annual Report
  • reports to the Board at least annually on its activities and recommendations
  Committee Terms of Reference   Outside Auditor Selection

Committee Members

Audit & Risk Committee (Composition as of 1 Jan 2023)
Chair Sergio Lugaresi Executive Director
Vice Chair Arif Baharudin Executive Director
Members Wan Farisan bin Wan Sulaiman Executive Director
Chantale Yok-Min Wong Executive Director
Donald Bobiash Executive Director
Rachel Thompson Executive Director

Email the committee or call + 632 8632 1552

Annual Reports of the Audit & Risk Committee