Performance Review Committee oversight requires annual review of compliance, governance and risk management with mandated reporting to central authority. A Performance Review Committee of at least two Members shall review the Authority's adherence to applicable laws, the transparency and governance of its regulations, and its risk management; perform the review at least once every financial year; submit findings to the Authority which must forward the report and any action taken to the Central Government within three months; maintain a system for receiving incidents of legal non-adherence, resource misappropriation, abuse of power, or non-compliance; and the Authority must regulate information provision and supply adequate resources for the Committee to discharge its functions.
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Performance Review Committee oversight requires annual review of compliance, governance and risk management with mandated reporting to central authority.
A Performance Review Committee of at least two Members shall review the Authority's adherence to applicable laws, the transparency and governance of its regulations, and its risk management; perform the review at least once every financial year; submit findings to the Authority which must forward the report and any action taken to the Central Government within three months; maintain a system for receiving incidents of legal non-adherence, resource misappropriation, abuse of power, or non-compliance; and the Authority must regulate information provision and supply adequate resources for the Committee to discharge its functions.
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