The primary responsibility of the Audit Committee (AC) is to provide support and assistance to the Board in ensuring that a high standard of corporate governance is constantly maintained. The AC has full access to all management personnel and full discretion to invite any executive officer to attend its meeting/s. The External Auditors have unrestricted access to the AC.

Committee’s Main Roles and Responsibilities
☑ Reviewing the significant financial reporting issues and judgments to ensure the integrity of the financial statements of the Bank and any announcements relating to the Bank’s financial performance
☑  Reviewing and reporting to the Board, at least annually, the adequacy and effectiveness of the Bank’s internal controls, including financial, operational, compliance, and information technology controls
☑  Reviewing the effectiveness of the Bank’s Internal Audit function
☑  Reviewing the scope and results of the external audit, and the independence and objectivity of the external auditors
☑  Making recommendations to the Board on the proposals to the shareholders on the appointment, re-appointment, and removal of the external auditors, and approving the remuneration and terms of engagement of the external auditors
☑  Reviewing all materials of related party transactions and keeping the Board informed of such transactions, and the findings and conclusions from the review
☑  In addition to the review of Bank’s financial statements, the AC reviews and evaluates with the external and internal auditors, the adequacy and effectiveness of the system of internal controls including financial, operational, compliance, and information technology controls, policies, and systems
☑  It reviews the scope and results of the audits, the cost-effectiveness of the audits, and the independence and objectivity of the external auditors.

Members
☑  Mr Hamid Nooryar (Chairman)
☑  Mr Shirjan Mujahid (Member)