90538
                                AUDIT COMMITTEE
                     COMMITTEE ON DEVELOPMENT EFFECTIVENESS


FROM: The Secretaries, Audit Committee and
           Committee on Development Effectiveness


                   Minutes of Joint Meeting held on Monday, September 8, 2014
                                  at 3:05 p.m. in the Board Room

Present:

Committee
Mr. Cipollone (Chair)                                  Mr. Foxley (Alternate)
Mr. Bravo (co-Chair)                                   Mr. Mukai (Acting Alternate)
Mr. Alturki (Alternate)                                Mr. Peters (Acting Alternate)
Mr. Annamalai                                          Mr. Prasad
Ms. Bajare (Alternate)                                 Mr. Rissmann (Alternate)
Mr. Barclay (Acting Alternate)                         Mr. Snisorenko (Acting Alternate)
Mr. Delaunay (Alternate)                               Mr. Tattersall (Acting Alternate)
Ms. Dybczakova (Acting Alternate)

Other Executive Directors and Alternates
Messrs./Mmes. Barry, Clark, Frieden, Heemskerk, Mirjalili, Mufarrij, Nishii, Roberts and Ye

Officers and Staff
Messrs./Mmes. Frazier, Koeberle, Mountfield, Peters, Shyam-Sunder and Teymourian. Baechli (CODE Secretary)
and Berger (Audit Committee Secretary)


Framework for Management of Risk in Operations - Proactive Risk Management for Better
Results

1.       The Committees met to discuss the document entitled Framework for Management of Risk in
Operations - Proactive Risk Management for Better Results (AC2014-0037[CODE2014-0036]). A
report from the Committees to the Board will be prepared.

Date of Next Meeting

2.     The Audit Committee was scheduled to meet on September 17, 2014, and the next CODE
meeting was scheduled for September 29, 2014.

Adjournment

3.     The meeting adjourned at 4:40 p.m.