The Audit Committee monitors and evaluates the adequacy and effectiveness of the Bank’s systems of internal controls, risk management, and governance processes. It provides oversight on the integrity of the Bank’s financial statements and financial reporting process, performance of the internal and external audit functions, and compliance with bank policies, applicable laws, and regulatory requirements.
In addition, the Audit Committee reviews the external independent auditor’s annual audit plan and scope of work and assesses the independent auditor's overall performance and effectiveness. In consultation with Management, the Committee also approves the independent auditor's terms of engagement and audit fees.
Maria Dolores B. Yuvienco (Independent Director)
Octavio Victor R. Espiritu (Non-Executive Director)
Cesar V. Purisima (Independent Director)
During 2021, the committee members attended meetings as set out in the following table:
Date of Appointment
Years served on Committee
Maria Dolores B. Yuvienco
Apr. 10, 2014
Octavio Victor R. Espiritu
Apr. 15, 2010
Cesar V. Purisima
Apr. 22, 2021
Romeo L. Bernardo1
Oct. 21, 2020
1 Committee member until Apr. 21, 2021
2 Includes BPI Joint AuditCom & RMCom Meeting
As part of the annual Board effectiveness review, a separate exercise was conducted to assess the Committee’s 2021 performance. The survey found the Committee to have performed its duties and responsibilities effectively.