The External Audit Committee (EAC)
Last Updated: September 11, 2009|
The External Audit Committee (EAC) has three members, all of whom are independent of the IMF and its Executive Board. The EAC reports to the Board of Governors and is responsible for the oversight of the IMF's external audit, internal audit, financial accounting and reporting, risk management and internal control functions. EAC members each have the accounting and financial expertise required to fulfill the EAC's oversight responsibilities. |
Members of the IMF's External Audit Committee
Mr. Steve Anderson, Chairman (New Zealand)
Mr. Thomas O'Neill (Canada)
Mr. Ulrich Graf (Germany)
Mr. Steve Anderson (New Zealand)
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Mr. Anderson has served as a member of the Fund's External Audit Committee since January 2007.
Mr. Anderson, a Chartered Accountant (New Zealand) is the Head of Risk Assessment and Assurance for the Reserve Bank of New Zealand, a position in which he has served since March of 1999. In this role, Mr. Anderson is responsible for providing advice on managing risk in all the Bank's activities, and is also responsible for the internal audit function. Prior to his current role, Mr. Anderson was the Chief Manager of the Reserve Bank of New Zealand's Accounting Services Department. He has worked for the Reserve Bank of New Zealand since 1989.
In his work with the Reserve Bank of New Zealand, Mr. Anderson has been a member or project manager of several national and international committees and working groups, addressing issues related to cross-currency settlement, bank failures, and payment systems.
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Mr. O'Neill has served as a member of the Fund's External Audit Committee since December 2007.
Mr. O'Neill, a Chartered Accountant (Canada) is a non-executive board member for several corporations and organizations, including Adecco S.A., BCE Inc., Loblaw Companies Limited, Nexen Inc., Queen's University and St. Michael's Hospital, typically serving on such boards as a member or chair of the audit committee.
Mr. O'Neill was previously the Chairman, and prior to that the Chief Executive Officer, of PricewaterhouseCoopers (PwC) Consulting (global). He retired from PwC in 2002. His prior roles with PwC included Chief Operating Officer for the global organization and Chief Executive Officer for the Canadian firm. Mr. O'Neill holds an FCA (Fellow of the Chartered Accountants) designation and an honorary LL.D. from Queen's University.
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Mr. Graf has served as a member of the Fund's External Audit Committee since January 2009.
Mr. Graf is the Audit Director in charge of federal debt and financial policy for the Supreme Audit Institution (SAI) of the Federal Republic of Germany, where he has been employed since 1991. He has extensive audit, internal control and financial reporting experience. In auditing, he has focused on banking institutions, financial markets, portfolio strategy, and financial assets. He has worked closely with relevant parliamentary committees such as the budget committee and the public accounts subcommittee. During his career at the SAI, he has held both the President’s Private Secretary and the Spokesman functions. He also served as a Member of the Large Senate, the supreme decision-making body of the SAI, and currently chairs the Financial Market Stabilization Task Force.
Mr. Graf has led international projects, working groups, and law enforcement projects, and lectured and researched in the field of economic and financial policy.