Our governance
10Audit and Risk Assurance Committee
Explore the committee’s oversight of financial reporting, risk management, internal controls, audit, compliance and governance, and its contribution to protecting member value.
Chairperson, Audit and Risk Assurance Committee
Ms. Annet Nakawunde Mulindwa
"We believe that inclusive sustainable wellbeing is built on trust, accountability and financial resilience. As custodians of assurance and risk oversight, we help safeguard the value entrusted to the Fund through sound financial stewardship, effective risk management and informed decision-making. In doing so, we support the Fund's ability to preserve and grow member value, strengthen resilience and deliver lasting benefits for current and future generations."
Governance structures and delegation
Audit and Risk Assurance Committee
Composition of the committee during FY2025/26
10
Meetings
88.0%
Attendance
Value creation / impact
Chairperson: Annet Nakawunde Mulindwa
Provides experienced leadership and independent governance oversight.
Members: Peninnah Tukamwesiga; Richard Bigirwa; Aggrey David Kibenge
Brings diverse expertise and perspectives to support effective oversight and decision-making.
Company Secretary: The Corporation Secretary served as secretary to the Committee
Supports sound governance, regulatory compliance and effective committee administration.
Professional Advisor: Herbert Mbabazi
Provides specialist guidance and independent professional input on key matters.
Attendees by Invitation: Managing Director
Enhances information flow and strategic alignment while preserving Committee independence.
Ex-Officio Attendees: Head of Enterprise Risk Management and Chief Internal Auditor (as required)
Ensures access to specialist assurance and risk management expertise.
Attendance and meetings
The committee met ten times during the year, aligned with the Fund's financial reporting cycle.
Enables timely oversight of strategic, financial and operational matters.
Attendance Rate: 88.0%
Demonstrates strong commitment to governance and accountability.
Committee purpose and contribution to value creation
The committee comprises only Non-Executive Directors and supports the Board in overseeing financial reporting, risk management, internal controls, audit, compliance and governance. Through oversight of the Internal Audit function and ongoing monitoring of internal controls, the committee provides independent assurance on the effectiveness of the Fund's control environment. The Board reviewed and was satisfied with the effectiveness of the system of internal control, including financial controls, throughout the year under review.
Strengthens stakeholder confidence through robust governance, financial stewardship, independent assurance and effective oversight of risks, supporting the Fund's long-term sustainability, financial resilience and protection of member value.
Primary focus
Oversight of strategic risks across real estate, investments, third-party relationships, technology and cyber security.
Capitals impacted:
Safeguards member savings and Fund assets while strengthening resilience and supporting sustainable long-term returns and value creation.