Audit Committee

Committee roles and responsibilities

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.

Committee Composition (Term 2022 - 2023)

Chairman	Maria Dolores B. Yuvienco Independent Director
Members	Octavio Victor R. Espiritu Non-Executive Director
Members	Cesar V. Purisima Independent Director

During 2021, the committee members attended meetings as set out in the following table:

Office	Name	Date of Appointment	Attendance / Meetings	%	Years served on Committee
Chairman (ID)	Maria Dolores B. Yuvienco	April 10, 2014	17/17²	100%	7.7
Member	Octavio Victor R. Espiritu	Apr. 15, 2010	15/17²	88%	11.7
Member (ID)	Cesar V. Purisima	Apr. 22, 2021	10/10²	100%	1.7
Member	Romeo L. Bernardo¹	Oct. 21, 2020	7/7	100%	0.5

¹Committee member until Apr. 21, 2021
²Includes BPI Joint AuditCom & RMCom Meeting

Committee Performance

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.

Committee Charter

Read the Audit Committee Charter here.