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                                       AUDIT COMMITTEE


FROM: The Secretary, Audit Committee


                       Minutes of Meeting held on Wednesday, June 13, 2012
                                  at 2:30 p.m. in the Board Room


Present

Committee
Ms. Mokate (Chair)
Mr. Alvarez (Acting Alternate)
Ms. Bohan (Alternate)
Mr. Cipollone
Mr. Prasad
Mr. Solomon
Ms. Touret (Alternate)
Mr. Whitehead

Other Executive Directors and Alternates
Messrs./Mmes. Al-Ghwell, Alturki, Bamba, Carmignani, Dufey, Fernando, Garayo Orbe, Gooch, Han,
Hernandez (R), Hua, Inaka, James, Joo, Kane, Kantor, Kivine, Lumala, MacDonald, Maor Shavit,
Mozayani, Namjildorj, Pamuksuz, Pedro, Perez Morales, Ruggiero, Sandhu, Souvannachoumkham,
Szczuka, Vumendlini-Schalk and Zang

Officers and Staff
Messrs./Mmes. Borthwick, Chastenay, Cumming, Hemond, Hofman, Hua, Jessee, Kang, Khairi, Kopech,
Lairo, Lauwers, Muleri, Oskanian, Otto, Panomarenko, Pitts, Powell, Quraishi, Robbins, Sikipa, Siy and
Berger (Committee Secretary)


IFC FY12 Annual Report on Financial Risk Management and Capital Adequacy

1.      The Committee discussed the document entitled IFC FY12 Annual Report on Financial Risk
Management and Capital Adequacy (IFC/R2012-0189). The highlights and conclusions of its discussion
were circulated to the Board (AC/GS2012-0036).

Review of IFC's FY12 Treasury Activities and Proposed FY13 Program

2.       The Committee discussed the document entitled Review of IFC's FY12 Treasury Activities and
Proposed FY13 Program (IFC/R2012-0191). The highlights and conclusions of its discussion were
circulated to the Board (AC/GS2012-0021).

Record of Previous Approvals

3.    The Committee recorded its approval of the minutes of the meetings of February 8
(AC/XM2012-0005), February 27 (AC/XM2012-0006) and April 25, 2012 (AC/XM2012-0007).


Date of Next Meeting
                                               2

4.    The Committee was scheduled to meet on July 11, 2012.

Adjournment

5.    The meeting adjourned at 4:32 p.m.