AUDIT COMMITTEE


FROM: The Secretary, Audit Committee


                        Minutes of Meeting held on Monday, July 24, 2017
                                 at 2:34 p.m. in the Board Room

Present

Committee
Ms. Kunene (Chair)
Mr. Almutairi (Alternate)
Mr. Catzaras (Alternate)
Ms. Mathiasen
Ms. Mihaylova (Temporary Alternate)
Mr. Schoenleitner (Alternate)
Mr. Yang

Other Executive Directors and Alternates
Messrs./Mmes. Bhuiyan, Bilbeisi, Carriedo Haro, Cascino, Desrochers, Fernandez, Gruber, Happe,
Myers, Nili, Shariif, Snisorenko, Tantitemit, Tazaki, Tchatchouang and Ulbaek

Officers and Staff
Messrs./Mmes. Bravery, Bronder, Cumming, Gouled, Meighan and Peschka. Berger (Acting Committee
Secretary)


Use of IFC’s FY17 Net Income: Retained Earnings and Designation of Retained Earnings

   1. The Committee discussed the document entitled Use of IFC’s FY17 Net Income: Retained
      Earnings and Designation of Retained Earnings (AC2017-0027). A report from the
      Committee to the Board will be prepared.

Date of Next Meeting

   2. The Committee was scheduled to meet jointly with CODE on July 26, 2017.

Adjournment

   3. The meeting adjourned at 4:08 p.m.
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                     The following item has been endorsed by the
                   Audit Committee on an Absence of Objection Basis
                                  on June 28, 2017


KPMG Fiscal Year 2018 External Audit Engagement Letters (Draft)

1.   The Committee recorded its endorsement on June 28, 2017 of the document entitled
KPMG Fiscal Year 2018 External Audit Engagement Letters (Draft) (AC2017-0024).