104 SUMMARY CONSOLIDATED FINANCIAL STATEMENTS
REPORT FROM THE CHAIRMAN OF THE AUDIT COMMITTEE
It is an honour to be presenting my report as the Chairman of the Audit Committee. My involvement with the ICC Audit Committee dates back to 2012, and I will be concluding my six-year term with the ICC on 30 June 2018. I would like to take this opportunity to thank everyone I have worked with and extend my best wishes to the Audit Committee. I must mention that I have truly enjoyed working for
The period from 1 June 2017 to 31 May 2018 saw the implementation of wide-reaching reforms at the members to full membership of the ICC. The sport has entered an exciting phase with work ongoing on the development of global strategy for cricket, which would complement the creation of the Test and ODI leagues and recent granting of T20Istatus to all ICC Members.
Between 2017 and 2018, the ICC Audit Committee met on two occasions. The Committee continued to focus on ensuring that the ICC’s internal systems and controls are effective and responsive to a challenging external environment while evolving in of important issues, including Corporate taxation, which remains a high-risk area in a multi-jurisdictional and geographically widespread organization, such as the ICC.
As per the Committee’s Terms of Reference, as members, we are required to review the Audited Financial Statements and External Auditor’s report and make appropriate recommendations. At our last meeting in April 2018, we reviewed and discussed the report and draft statements for the period from 1 January 2017 to 31 December 2017. The review included the assessment of the accounting
performance and independence, and the impact of any non-audit services on their objectivity.
Given the length of service of existing External Auditors, the Audit Committee has recommended running a tender process for the appointment of External Auditors for 2018 and onward.
Internal Control Framework. This Statement is prepared after due consideration of the Risk-Based Internal Audit Plan, results of the audits undertaken by the Internal Audit function, responses received from Management on Internal Audit issues, the extent of implementation of audit recommendations, the integrity of ICC’s risk management process, minutes of key ICC Committees, and knowledge gained from any other pertinent reviews performed during the respective period.
Finally, I wish to conclude by expressing the Committee’s gratitude to the Chairman, Directors, and Management, who have shown utmost cooperation in working with us and extending their assistance.
For the Audit Committee
Dubai, 20 May 2018 EDWARD QUINLAN
Ch i
EDWARD QUINLAN Chairman
and to provide assurance to the ICC Board on the effectiveness of ICC’s internal controls and risk management framework. The Committee Committee meetings and following each meeting submits its report to the ICC Board.”
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