Committee roles and responsibilities
The Audit Committee monitors and evaluates the Bank’s systems of internal controls, risk management and governance processes. It provides oversight on the integrity of the Bank’s financial statements and financial reporting process, performance of the internal and external audit functions, and compliance with bank policies, applicable laws and regulatory requirements.
In addition, the Committee reviews the external independent auditor’s annual audit plan, scope of work, overall performance and effectiveness. In consultation with Management, the Committee also approves the independent auditor’s terms of engagement and audit fees.
Committee Composition (Term 2024-2025)
Members | Position/Designation in Committee |
|---|---|
Maria Dolores B. Yuvienco | Chairman (Independent) |
Mario Antonio V. Paner | Member (Independent) |
Cesar V. Purisima | Member (Independent) |
Committee Members Meeting Attendance
During 2023, the committee members attended meetings as follows:
Position | Name | Date of Appointment | Attendance/ Meetings1 | % |
|---|---|---|---|---|
Chairman (ID) | Maria Dolores B. Yuvienco | October 21, 2020 | 16/169 | 100% |
Member (NED) | Octavio Victor R. Espiritu | April 15, 2010 | 16/169 | 100% |
Member (ID) | Cesar V. Purisima | April 22, 2021 | 16/169 | 100% |
Legend:
1 For the period of 01 January to 31 December 2023
9 Includes Special Joint Audit and Risk Management Committee Meeting
Committee Performance
As part of the annual Board effectiveness review, a separate exercise was conducted to assess the Committee’s 2023 performance. The survey found the Committee to have performed its duties and responsibilities effectively.
Committee Charter
Audit Committee Charter
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| BPI is regulated by the Bangko Sentral ng Pilipinas