Audit Committee - Minutes of Meeting held on August 4, 2025

Jul 19, 2026

Audit Committee meeting minutes document the attendance of committee members, senior advisors, officers, staff, and Deloitte external auditors, convened on August 4, 2025 at 2:31 p.m. Discussion centered on draft management’s discussion and unaudited financial statements for MIGA, IFC, and IBRD/IDA as of June 30, 2025, supported by related integrated audit results and FY25 financial results presentations. The committee prepared a report to the Board and adjourned at 4:22 p.m., with approvals recorded on July 18, 2025 for annual audits and the nomination of external auditors for FY26.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages3

Reading Time8 min

AccessFree to download

Minutes of Meeting

Date, time, and location

Present

Discussion items

Adjournment

Approved/endorsed items

Absence of objection basis approvals

Public Disclosure Authorized Public Disclosure Authorized AUDIT COMMITTEE FROM: The Committee Secretary Minutes of Meeting held on Monday, August 4, 2025 at 2:31 p.m. in the Shihata Conference Room (MC13-121) Present Committee Members: A. Almulla (Chair) B. Guerini (Temporary Alternate) M. Rolland-Allen (Alternate) S. Saeed N. Segole (Temporary Alternate) M. Sihvola (Temporary Alternate) S. Takapong (Temporary Alternate) P. Wisner Other Executive Directors, Alternates, Senior Advisors and Advisors H. Amrane A. Bucalossi P. Fonseca A. Gonzalez O. Graham Yamahuchi B. Huerzeler V. James R. Kachur S. Khan M. Krake M. Kratochvil R. Nicholl A. Ouro Samah J. Qian E. Sta. Ana E. Sycheva A. Tsuji Officers and Staff M. Child J. Frazier F. Galizia D. Jerath A. Kant A. Kumar-Capoor E. Mountfield P. O’Connell Z. Venner H. Murai (Acting Committee Secretary) Deloitte (External Auditors) C. Cristinzio A. VanFossen IBRD/IDA, IFC and MIGA Unaudited Financial Statements and Draft Management's Discussion and Analysis-June 30, 2025 1. The Committee met to discuss the documents entitled “Multilateral Investment Guarantee Agency (MIGA) Draft Management's Discussion & Analysis and Unaudited Financial Statements – June 30, 2025 (MIGA/R2025-0079),“International Finance Corporation (IFC): Unaudited Consolidated Financial Statements and Draft Management's Discussion and Analysis-June 30, 2025 (IFC/R2025-0254, and “International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA): Unaudited Financial Statements and Draft Management’s Discussion & Analysis-June 30, 2025 (R2025-0171[IDA/R2025-0241]), together with the “Deloitte Presentation to the Audit Committee: The World Bank Group 2025 Integrated Audit Results (AC2025-0029) . The “WBG MDCFO Presentation: FY25 Financial Results (AC2025-0028) served as background information for the discussion. A report from the Committee to the Board was prepared. Adjournment 2. The meeting adjourned at 4:22 p.m. The following item(s) have been approved/endorsed by the Audit Committee on an Absence of Objection Basis on July 18, 2025 Annual Audits of IBRD, IDA, IFC, MIGA, and Trust Funds for FY26 Nomination of a Firm of External Auditors (Draft) 1. On July 18, 2025, the Committee endorsed the document entitled “Annual Audits of IBRD, IDA, IFC, MIGA, and Trust Funds for FY26 Nomination of a Firm of External Auditors (Draft)” (AC2025-0027) .

FAQs

When and where was the Audit Committee meeting held?

The meeting was held on Monday, August 4, 2025 at 2:31 p.m. in the Shihata Conference Room (MC13-121).

What financial materials were discussed during the meeting?

The committee discussed draft management’s discussion and analysis and unaudited financial statements for MIGA, IFC, and IBRD/IDA as of June 30, 2025, supported by related World Bank Group presentations.

What was approved after the meeting and on what basis?

On an absence of objection basis dated July 18, 2025, the committee approved the endorsed item regarding annual audits for IBRD, IDA, IFC, MIGA, and trust funds for FY26, including nomination of a firm of external auditors (draft).

Jul 19, 2026

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