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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > High Level Standards > HC High-Level Controls > HC-3 Audit Committee and Financial Statements Certification > HC-3.3 Audit Committee Charter
  • HC-3.3 Audit Committee Charter

    • HC-3.3.1

      The audit committee must adopt a written charter which shall, at a minimum, state the duties outlined in Paragraph HC-3.2.1 and the other matters included in Appendix A to this Module.

      January 2011

    • HC-3.3.2

      A majority of the audit committee should have the financial literacy qualifications stated in Appendix A.

      January 2011

    • HC-3.3.3

      The Board should adopt a "whistleblower" program under which employees can confidentially raise concerns about possible improprieties in financial or legal matters. Under the program, concerns may be communicated directly to any audit committee member or, alternatively, to an identified officer or employee who will report directly to the Audit Committee on this point.

      January 2011

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