The RWTF has established an audit committee in accordance with the PGPA Act. The committee is comprised of three members.
The primary objectives of the Audit Committee are:
- improving the effectiveness and efficiency of RWTF’s internal control framework;
- ensuring that RWTF has appropriate risk identification and management practices in place;
- improving the objectivity and reliability of financial reporting;
- ensuring that RWTF has adequate procedures on matters of audit independence; and
- assisting the Board to comply with all governance and other obligations.
The Committee is comprised of the following persons:
- Group Captain G. Pinder - Chair of the Audit Committee (Appointed 18 February 2019);
- Squadron Leader A. Frank- Chair of the Audit Committee (Resigned 18 February 2019)
- Squadron Leader C. Milton - Trustee
- Squadron Leader P. Alomes – Independent member
The Audit Committee is not required to hold formal meetings; however the charter of the Committee sets out the conduct and reporting requirements for internal reviews of various aspects of Fund management and operations. The charter of the Audit Committee was reviewed and updated in November 2018 in order to ensure that the committee was better able to meet its primary objectives.