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                                      AUDIT COMMITTEE

FROM: The Secretary, Audit Committee

                       Minutes of Meeting held on Wednesday, April 25, 2012
                                  at 4:35 p.m. in the Board Room

Present:

Committee:
Ms. Mokate (Chair)
Mr. Prasad
Mr. Pribadi (Acting Alternate)
Mr. Ruggiero (Acting Alternate)
Mr. Solomon
Mr. Studart
Ms. Touret (Alternate)
Mr. Whitehead

Other Executive Directors and Alternates
Messrs./Mmes. Alvarez, Feidieker, Gooch, Gordon, Hoven, Inaka, Larose, Liu, Maor Shavit, MacDonald,
Mirjalili, Mufarrij, Pasi, Perez Morales, Peters, Szczuka, Thakur, Thompson, Ubelis and Zang

Officers and Staff
Messrs./Mmes. Betancourt, Brady, Castro, Dhar, Diagne, Fariello, Frazier, McCarthy, Mikhlin-Oliver,
Moulton, Murugan, Pierce, Toft, Zimmermann and Berger (Committee Secretary)

External Auditor (KPMG)
Messrs. McFaddin and Sweeney

Recommendations of External Review of the Oversight and Accountability Units of the World
Bank Group (5-Is) - IAD and INT

1.       The Committee discussed the Recommendations of External Review of the Oversight and
Accountability Units of the World Bank Group (5-Is) - IAD and INT. The highlights and conclusions of
its discussion were circulated to the Board (AC/GS2012-0017).

Other Business

2.    The Chair expressed thanks on behalf of the Committee to Ms. Aru Dhar for her support to the
Committee as she leaves to begin as the new COGAM Secretary.

Date of Next Meeting

3.     The Committee was scheduled to meet on May 9, 2012 for the next “Quarterly Day”.

Adjournment

4.     The meeting adjourned at 5:15 p.m.