- George Odawo (Chairman)
- George Gichonjo (Member)
- Samuel Kithinji (Member)
The Terms of Reference are:
- Review financial conditions of the Scheme, the Scheme’s internal controls and performance and recommend remedial actions.
- Ensure that the Administrator establishes and effectively maintains internal controls in order to achieve the Scheme’s financial reporting objectives.
- Review the Scheme’s internal controls including the scope of the internal audit programme and the internal audit findings and recommend to the Administrator the action to be taken to mitigate any identified audit risks.
- Review the Scheme’s internal audit reports, the overall effectiveness, scope and depth of audit coverage, the reports on internal controls and recommendations thereof, and confirm whether appropriate action has been taken by the Administrator.
- Ensure that the Scheme’s accounting records and financial reports are prepared within statutory and Scheme timelines and accurately reflect the Scheme’s operations.
- Recommend the appointment or replacement of the Scheme’s internal or external auditor and review the audit fee from time to time and also review placement of the Scheme’s insurance portfolio and explore all available options to cover all the known insurance risks of the scheme.
- Ensure that the Scheme establishes and properly administers plans, policies and control procedures to safeguard against error, carelessness, conflicts of interest, self-dealing or fraud and keep its minutes and document all its work in writing.
- Review and assess the integrity of the Scheme’s risk control systems established by the Administrator and ensure that risk policies and strategies are effectively managed.
- Monitor external developments connected to the accountability of the scheme and reporting associated risks including emerging and prospective impacts and report to the Board in writing on measures taken by the scheme to implement its recommendations in respect of audit and risk function.