Interim Audit Committee Minutes of Meeting held on Wednesday, November 13, 2024 - Record of Approvals October 2024 to November 1, 2024

Jul 19, 2026

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Interim Audit Committee minutes document a meeting held on November 13, 2024 at 2:32 p.m., listing committee members, executive participants, officers, staff, and the external auditors from Deloitte. The agenda covers review of interim financial information and draft financial statements for MIGA, IFC, and IBRD/IDA, supported by audit committee presentations. The committee prepares reports to the Board, discusses a proposed pre-approval for changes in Deloitte audit-related services, records prior minutes approvals, and notes adjournment at 5:10 p.m.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages3

Reading Time8 min

Interim Audit Committee Minutes

Meeting details and attendees

Review of interim financial information

Pre-approval for Deloitte audit-related services

Approvals between October 16, 2024 and November 1, 2024

Adjournment and minutes of previous meetings

Public Disclosure Authorized Public Disclosure Authorized INTERIM AUDIT COMMITTEE FROM: The Committee Secretary Minutes of Meeting held on Wednesday, November 13, 2024 at 2:32 p.m. in the Board Room Present Committee Members: A. Buisse (Chair) A. Gur (Alternate) S. Rawet E. Rhuggenaath S. Saeed W. Saputra S. Suter (Temporary Alternate) W. Yang (Alternate) Other Executive Directors, Alternates, Senior Advisors and Advisors Z. Ahmed A. Almulla E. Amor A. Bucalossi E. Busygin L. Engozogo Mba P. Fonseca O. Graham Yamahuchi L. Magagula A. Maleki S. Maluck M. Muneer M. Quiros Romero N. Srivastava E. Tierney A. Tsuji M. Warren Officers and Staff T. Ceusters M. Child D. Cumming P. de Bolle B. Fischer C. Frazier F. Galizia T. Himmo D. Jerath K. Kollias A. Martinez Fernandez H. Murai T. Obuya P. O’Connell J. Park B. Quesnel Z. Venner H. Jarik (Committee Secretary) Deloitte (External Auditors) C. Cristinzio A. VanFossen IBRD/IDA, IFC and MIGA Financial Statements as of September 30, 2024 (Unaudited) 1. The Committee discussed the documents entitled “Multilateral Investment Guarantee Agency (MIGA) Condensed Quarterly Financial Statements-September 30, 2024 (Unaudited)”(AC2024-0038),“International Finance Corporation (IFC): Draft Management's Discussion and Analysis and Draft Condensed Consolidated Financial Statements-September 30, 2024 (Unaudited)”(AC2024-0040),“IBRD and IDA Management's Discussion and Analysis and Condensed Quarterly Financial StatementsSeptember 30, 2024 (Unaudited)”(AC2024-0039), together with the “Deloitte Presentation to the Audit Committee FY25 Q1: The World Bank Group (“WBG”) -Results of the Review of Interim Financial Information”(AC2024-0042) . The “WBG MDCFO Presentation: FY25 Q1 Financial Results”(AC2024-0041) served as background information for the discussion. A report from the Committee to the Board was prepared. Proposed Pre-Approval for a Change in Estimate of Audit-Related Services to be Performed by Deloitte, as External Auditor (Draft) 2. The Committee discussed the document entitled “Proposed Pre-Approval for a Change in Estimate of Audit-Related Services to be Performed by Deloitte, as External Auditor (Draft)” (AC2024-0043) . A report from the Committee to the Board was prepared. Adjournment 3. The meeting adjourned at 5:10 p.m. The following item(s) have been approved/endorsed by the Audit Committee on an Absence of Objection Basis between October 16, 2024 to November 1, 2024 Use ofIFC's FY24 Net Income: Retained Earnings and Designation of Retained Earnings (Revision) 1. On October 16, 2024, the Committee endorsed the document entitled “Use ofIFC's FY24 Net Income: Retained Earnings and Designation of Retained Earnings (Revision)”(AC2024-0037) . Minutes of Previous Meetings 2. The Committee recorded its approval on October 31, 2024 of the minutes of the meetings held on January 8, 2024 and record of approvals on December 22, 2023 (AC/M2024-0001), January 22, 2024 (AC/M2024-0002), February 12, 2024 (AC/M2024-0003), February 21, 2024 (AC/M2024-0004), March 20, 2024 (AC/M2024-0005), April 3, 2024 (AC/M2024-0006), April 11, 2024 (AC/M2024-0007), May 13, 2024 (AC/M2024-0008), May 20, 2024 (AC/M2024-0009), June 5, 2024 (AC/M2024-0011), June 11, 2024 (AC/M2024-0012), July 1, 2024 and record of endorsement on June 25, 2024 (AC/M20240013), July 17, 2024 and record of endorsement on July 12, 2024 (AC/M2024-0014), August 2, 2024 and record of endorsement on July 29, 2024 (AC/M2024-0015), September 18, 2024 (AC/M2024-0016), September 25, 2024 and record of endorsements on September 25, 2024 (AC/M2024-0017), October 2, 2024 and record of endorsements on between September 26 and October 2, 2024 (AC/M2024-0018), October 7, 2024 (AC/M2024-0019) and October 9, 2024 (AC/M2024-0020) . 3. The Committee recorded its approval on November 1, 2024 of the minutes of the meetings held

FAQs

When was the Interim Audit Committee meeting held, and at what time did it adjourn?

The meeting was held on Wednesday, November 13, 2024 at 2:32 p.m., and it adjourned at 5:10 p.m.

Which documents were discussed during the committee meeting?

The committee discussed draft and condensed interim financial statements and related management discussion and analysis materials for MIGA, IFC, and IBRD/IDA, plus Deloitte’s presentation and background financial results presentations for FY25 Q1.

What approvals were recorded between October 16, 2024 and November 1, 2024?

The record includes the committee’s endorsement related to the use of IFC’s FY24 net income, covering retained earnings and the designation revision.

Jul 19, 2026

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