Audit Committee - Minutes of Virtual Meeting - July 29, 2020 - Use of IFC's FY20 Net Income

Jul 19, 2026

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Audit Committee minutes record a virtual meeting held on July 29, 2020 at 10:00 a.m. via WebEx. Members reviewed a report on the proposed use of IFC’s FY20 net income through retained earnings and the designation of retained earnings, referencing document AC2020-0030 and preparing an accompanying report to the Board. The minutes note the meeting adjourned at 11:37 a.m., and document prior endorsements on an absence of objection basis for FY21 annual audits across IBRD, IDA, IFC, MIGA, and trust funds, as well as nomination of external auditors (draft).

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages2

Reading Time5 min

AccessFree to download

Minutes of Virtual Meeting held on Wednesday, July 29, 2020

Present

Use of IFC's FY20 Net Income: Retained Earnings and Designation of Retained Earnings

Adjournment

Endorsed Items on Absence of Objection Basis (July 7, 2020)

FAQs

When and how was the audit committee meeting held?

The audit committee meeting was held on Wednesday, July 29, 2020 at 10:00 a.m. via WebEx.

What main agenda item was discussed during the meeting?

The committee discussed the documents on the use of IFC’s FY20 net income through retained earnings and the designation of retained earnings (AC2020-0030).

What items were endorsed on an absence of objection basis before the meeting?

On July 7, 2020, the committee endorsed the FY21 annual audits for IBRD, IDA, IFC, MIGA, and trust funds, and the nomination of a firm of external auditors (draft) (AC2020-0029).

Jul 19, 2026

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