Report no. 106606


                                        AUDIT COMMITTEE

FROM: The Secretary, Audit Committee

                          Minutes of Meeting held on Monday, March 7, 2016
                                   at 3:03 p.m. in the Board Room

Present

Committee
Mr. Heemskerk (Chair)
Mr. Alkhudairy
Mr. Chen
Mr. Choi
Mr. Delaunay (Alternate)
Mr. Garg
Mr. McGuire
Ms. Mercusa (Temporary Alternate)

Other Executive Directors and Alternates
Messrs./Mmes. Ansorena Montero, Bangura, Beer, Bilbeisi, Coutanche, Cowie, Engozogo Mba, Farnoux,
Fernandez, Frieden, Fujii, Hamidzada, Hoettcke, Ishizuka, Istjan, Joshi, Kato, Krey-Jacobsen, Lorenz,
Maleka, Milambo, Misyukovets, Mufarrij, Ouro Samah, Panov, Papoutsis, Sikk, Sowerby, Trepanier and
Villena Petrosino

Officers and Staff
Messrs./Mmes. Cakici, Frazier, Gouled, Kebet-Koulibaly, Keicho, Meighan, Mikhlin-Oliver, Muleri,
Murugan, Naka, Narayanan, Nardolillo, Servaes, Tuanda and Zimmermann. Berger (Committee
Secretary)


Internal Audit Vice Presidency (IADVP) - FY16 Second Quarter Results Report

1.      The Committee discussed the document entitled Internal Audit Vice Presidency (IADVP) - FY16
Second Quarter Results Report (AC2016-0009). A report from the Committee to the Board was
prepared.

Quarterly Report of the Integrity Vice Presidency - Fiscal Year (FY) 2016, Quarter 2 (October
2015-December 2015)

2.       The Committee discussed the document entitled Quarterly Report of the Integrity Vice
Presidency - Fiscal Year (FY) 2016, Quarter 2 (October 2015-December 2015) (AC2016-0008). A
report from the Committee to the Board was prepared.

Briefing on IFC’s Approach to Managing Distressed Assets Portfolio

3.    The Committee received a Briefing on IFC’s Approach to Managing Distressed Assets Portfolio
(AC2016-0011).

Date of Next Meeting

4.        The Committee was scheduled to meet on April 6, 2016.

Adjournment

5.        The meeting adjourned at 5:49 p.m.