AUDIT COMMITTEE

The purpose of the NIBA Audit Committee is to provide a structured, systematic oversight of the NIBA’s governance, risk management, and internal control practices. The committee will assist the NIBA Board and Management by providing advice and guidance on the adequacy of the NIBA's initiatives for:
 

• Values and ethics. 

• Governance structure. 

• Risk management. 

• Internal control framework. 

• Oversight of the internal audit activity, external auditors, and other providers of assurance.

• Financial statements and public accountability reporting.
   

In broad terms, the NIBA audit committee will review each of the items noted above and will provide the NIBA Board of Directors with independent advice and guidance regarding the adequacy and effectiveness of management's practices and potential improvements to those practices.