The Audit Committee is a standing committee of the Board of Directors (“Board”) of the Nigeria Sovereign Investment Authority (“NSIA”), established to assist the Board in fulfilling its oversight responsibilities relating to the NSIA’s accounting and financial reporting policies and practices, compliance programs, internal controls and general compliance with applicable laws and regulations.
1. The Audit Committee shall have unrestricted access to the NSIA’s records and personnel and shall be provided with resources necessary to discharge its responsibilities;
2. In carrying out the Audit Committee’s responsibilities, each member of the Audit Committee shall be entitled to rely, in good faith, on information, opinions, reports or statements, including financial statements and other financial data that are prepared and presented by persons who the Audit Committee member reasonably believes to be reliable and competent in the matters presented, which persons may include, as applicable: (1) one or more executive staff of the NSIA or other members of management; (2) legal counsel, public accountants or other persons as to matters within the person’s professional or expert competence; or (3) another committee of the Board;