Audit and Risk Management Committee Charter of the Consortium Board

The Audit and Risk Management Committee (ARC) is responsible for assisting the Consortium Board to fulfill its oversight responsibilities in relation to (i) monitoring the quality and integrity of both financial and operational reporting by CRP Lead Centres and system of control over financial reporting and accounting (ii) receiving reports from the Internal Audit Unit, the external auditors of the fifteen Centres, independent reviews from third parties bearing on the conduct of the CRPs ; (iii) ensuring the Fund Council receives adequate supporting data for Consortium recommendations; and (iv) monitoring the Consortium’s effectiveness of risk management reporting and control.