Finance and Audit Committee

(1) There is established a Finance and Audit Committee, which the Board shall appoint whose primary functions are to assist with the Board’s oversight of– (a) the conduct of the Trust’s internal financial, budgeting, accounting and reporting processes; (b) the Trust’s financial reporting to external partners; (c) the Trust’s system of internal controls and risk assessment and management; (d) the Trust’s compliance with legal and regulatory requirements; and (e) the qualifications of those carrying out, the independence required in relation to, and the performance of the Trust’s internal audit (2) The composition of the Finance and Audit Committee shall be as follows– (a) Chairman of the Board; (b) the Board member required, pursuant to section 4 (1) to have expertise or experience in Protected Areas Conservation Trust[CAP. 218 21 financial management, investment, or asset management; (c) the Financial Secretary or his nominee; and (d) two other Board members.