Last Updated: November 1, 2024
The External Audit Committee (EAC)
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. The members of the IMF's External Audit Committee:
Terms of Reference of the External Audit Committee
Hussein Isingoma,Chair (Uganda)
Mr. Isingoma has served as a member of the Fund’s External Audit Committee since November 2022.
Mr. Isingoma is currently the Commissioner Internal Audit Management Department in the Office of the Internal Auditor General (OIAG) Ministry of Finance, Planning and Economic Development Uganda. In this role, he is also responsible for coordinating the activities of all the 14 Audit Committees established under the Uganda Public Finance Management Act 2015 to provide oversight across all Government Ministries, Departments, Local Governments and Agencies. Prior to that, Mr. Isingoma worked as the Commissioner for the Forensics and Risk Advisory Department and was responsible for the development of the first Government of Uganda Risk Management Strategy (RMS) in 2018.
Having started his career in KPMG/Jasper Semu CPA, Mr. Isingoma has held various positions including being the Head of the IT Audit for the Government of Uganda Internal Audit function and has been Head of Internal Audit for various Government Agencies in Uganda.
In 2009, Mr. Isingoma was seconded to the World Bank Group in Washington DC and worked in the Bank’s Internal Audit Department (Now Vice -Presidency) as an Auditor in the Department’s IT Audit Team. Mr. Isingoma has been involved in various modernization programs for the Government of Uganda such as the Government wide Integrated Financial Management System (IFMS), Integrated Pension and Payroll System, the Audit Management Software, and the Human Capital Management (HCM) among others.
Mr. Isingoma has experience as an audit committee member for several organizations, both public and private. Mr. Isingoma is the current President of the Institute of Internal Auditors (IIA) Uganda and is the Past President of Information Systems Audit and Control Association (ISACA) Kampala Chapter.
Mr. Isingoma is a CISA, CISM, CRISC, FCCA, CIA and CPA. Mr. Isingoma holds a Bachelor’s Degree in Business Studies-Accounting and has a Master of Science Degree in Accounting from the University of South Wales- UK.
Cathryn Ingram (Australia)
Ms. Ingram was appointed to the Fund’s External Audit Committee in November 2024.
Ms. Ingram is currently the Principal at Cath Ingram Advisory, where she provides governance, risk, and assurance services to the Public Sector. She also chairs and serves as an independent member on several Audit and Risk Committees for the Australian Government. Ms. Ingram is also an Executive Coach, helping to develop leaders and businesses.
With a career spanning 37 years, Ms. Ingram has held prominent positions, including Office Chairperson and senior Partner at KPMG’s Canberra office. She was a registered company auditor for over 20 years, leading audits for major Australian Government agencies and publicly listed companies in the financial and property sectors. In addition to her experience as an internal and external audit professional, she has specialist skills in the provision of independent program assurance for large, complex IT dependent public sector reforms.
Ms. Ingram was also the KPMG Account Leader for services to the Australian Government and previously served as the National Partner in Charge of Internal Audit and Risk.
Ms. Ingram is a Fellow of the Institute of Chartered Accountants in Australia and New Zealand and holds a Bachelor’s Degree in Accounting.
Teruhisa Tamai (Japan)
Mr. Tamai has served as a member of the Fund’s External Audit Committee since November 2023.
Mr. Tamai is a certified public accountant with 34 years of experience in audits of financial statements and internal control. He is currently an independent consultant providing advice to start-up audit firms and mentoring young auditors.
Prior to that, Mr. Tamai dedicated 33 years to Deloitte Touche Tohmatsu, where he served for 17 years as a partner. He led audits of multinational companies in Japan and the Japanese subsidiaries of companies incorporated in the United States, Europe, and Singapore. There, he acquired extensive experience in the accounting and auditing standards of both Japan and the United States, along with the International Financial Reporting Standards (IFRS), and the International Standards on Auditing. His responsibilities encompassed internal inspections of audit engagements, coaching audit partners, and various non-audit services including advisories on internal audit, internal control, and IFRS implementation.
Mr. Tamai gained a strong foothold in the international environment through a four year secondment to the United States, coupled with his leadership of global audit teams alongside partners from a diverse number of developed and emerging countries.