74419
                                        AUDIT COMMITTEE


FROM: The Secretary, Audit Committee


                         Minutes of Meeting held on Wednesday, July 11, 2012
                                    at 2:37 p.m. in the Board Room

Present

Committee
Ms. Mokate (Chair)
Mr. Alvarez (Acting Alternate)
Mr. Cho (Alternate)
Ms. Mya (Acting Alternate)
Mr. Prasad
Mr. Ruggiero (Acting Alternate)
Mr. Solomon
Ms. Touret (Alternate)

Other Executive Directors and Alternates
Messrs./Mmes. Bor, Dufey, Feidieker, Fernando, Gooch, Inaka, Kearns, Mirjalili, Mufarrij, Nanu, Pasi,
Pedro, Perez Morales, Rissmann, Sandu, Sani, Szczuka, Thompson, Vumendlini-Schalk and Zang

Officers and Staff
Messrs./Mmes. Ahmed, Bravery, Frazier, Hum, Lauwers, Lopez, McDonough, Muleri, Obuya,
O'Connell, Philip, Shyam-Sunder, Tan and Berger (Committee Secretary)

External Auditors (KPMG)
Messrs. Broderick, McFaddin, Sweeney and Stephens


KPMG’s FY13 Audit Plans and Draft Engagement Letters

1.       The Committee discussed KPMG’s FY13 Audit Plans for IBRD/IDA and the World Bank Group
Trust Funds (AC2012-0032), IFC (AC2012-0033) and MIGA (AC2012-0034), and Draft Engagement
Letters for IBRD/IDA (AC2012-0035), IFC (AC2012-0036), MIGA (AC2012-0037), World Bank Group
Trust Funds (AC2012-0038), GAVI Fund Affiliate (AC2012-0039) and the International Finance Facility
for Immunization (AC2012-0040). The highlights and conclusions of its discussion were circulated to
the Board (AC/GS2012-0025).

Date of Next Meeting

2.        The Committee was scheduled to meet on July 18, 2012.

Adjournment

3.        The meeting adjourned at 4:10 p.m.