Skip to Content
LMRA Website
Call Center +973 17506055
English

The audit committee

ARTICLE (21‎)
THE AUDIT COMMITTEE

A- The Board of Directors shall form a committee to be nominated as ‎‎“the Audit Committee” and to be comprised of three board members ‎and a minimum of two competent and experienced persons, who are not ‎board members, to be elected by the minister.‎
The committee shall supervise the conduct of the financial and ‎performance audits, and shall ensure compliance with the provisions of ‎this Act, regulations, orders, and resolutions, issued in implementation ‎thereof.‎

B- The Audit Committee shall prepare reports of the result of its work ‎and recommendations to be submitted to the Minister and to the Board ‎of Directors within:‎

  1. One month, as from the date of when the Committee received the ‎external auditor’s report referred to in clause D of Article (19) of this ‎Act regarding the Authority’s audit reports.‎
  2. Within a period to be determined the by the Board of directors with ‎regards to reports of the Authority’s performance audits.‎

C- The Board of Directors shall decide the measures to be taken about ‎the contents of the audit committee’s reports.‎

Last Update: Sunday 14 February 2010