AUDIT COMMITTEE FROM: The Committee Secretary Minutes of Meeting held on Monday, August 6, 2018 at 10:06 a.m. in the Board Room Present Committee Mr. Godts (Acting Chair) Mr. Alkhalaf (Alternate) Mr. Chotard (Alternate) Mr. Jimenez Mr. Kachur (Alternate) Mr. Peng (Temporary Alternate) Ms. Rose Innes (Temporary Alternate) Mr. Yadav (Temporary Alternate) Other Executive Directors and Alternates Messrs./Mmes. Abdul Karim, Agapov, Allford, Beyea, Cowie, Garay Estepa, Gruber, Happe, Klemola, Lumala, Lestari, Mills, Nili, Norambuena, Ouro Samah, Pagano, Rono, Senic, Tazaki and Wang Officers and Staff Messrs./Mmes. Assalini, Bravery, Frazier, Gouled, Himmo, Hupez, Jain, Kumar-Capoor, Lauwers, Levy, Obuya, O’Connell, Thomas and Venner. Myers (Acting Committee Secretary) KPMG (External Auditors) Messrs. Frank, Mbogo, O’Brien and Sweeney IBRD/IDA, IFC and MIGA Unaudited Financial Statements and Draft Management's Discussion and Analysis - June 30, 2018 1. The Committee met to discuss MIGA Draft Management’s Discussion and Analysis and Unaudited Financial Statements - June 30, 2018 (MIGA/R2018-0114), IFC Draft Management’s Discussion and Analysis and Unaudited Financial Statements - June 30, 2018 (IFC/R2018-0256), and IBRD and IDA Draft Management’s Discussion and Analysis and Unaudited Financial Statements - June 30, 2018 (R2018-0195[IDA/R2018-0268]), together with the KPMG Presentation on World Bank Group FY18 Audits (AC2018-0033). The WBG Controller’s Presentation - FY18 Financial Results (June 30, 2018) (AC2018-0032) served as background information for the discussion. A report from the Committee to the Board was prepared. Date of Next Meeting 2. The Committee was scheduled to meet on September 11, 2018. Adjournment 3. The meeting adjourned at 12:46 p.m. 2 The following item have been endorsed by the Audit Committee on an Absence of Objection Basis on August 1, 2018 Allocation of FY18 Net Income – Final 1. The Committee recorded its endorsement on August 1, 2018 of the document entitled Allocation of FY18 Net Income – Final (AC2018-0030).