The governing and operational structure of RERA is as follows:
Review and recommend for approval the annual budget that is aligned to the Association’s Business Plan;
Review and recommend the appropriateness of accounting policies, disclosures, forecasts, reserves, and judgments regarding accounting choices and ensure they are fair, accurate and in accordance with International Financial Reporting Standards and the approval of the relevant sections of the Annual Report, and any other disclosure documents containing financial statements or financial information of the Association.
Review and recommend the risk management framework and the effectiveness of the policies and procedures to ensure sound internal control environment;
Review the Association’s relationship with the External Auditor, including recommending for approval of the terms of the audit engagement and related fees (the “Annual Audit Plan”) and review the results of the external audit of the Association’s financial statements, including the management letter.
Review and recommend for approval of the MIS framework;