The Audit Committee Commission reports to the IOC Executive Board and the IOC President and assists the Director General’s Office concerning risk management, financial reporting, compliance, control, and governance. The Audit Committee may conduct any audit it deems necessary, and other duties as assigned to it by the IOC Executive Board and/or the IOC President. As of 2022 the chair of the commission is Pierre-Olivier Beckers-Vieujant.
The responsibilities of the Audit Committee are to:
- Monitor the integrity of the IOC’s financial statements and ensure that the financial statements of the IOC and its subsidiaries are prepared in accordance with the International Financial Reporting Standards and comply with Swiss law and the Olympic Charter;
- Monitor any other formal announcement relating to its financial condition; and review significant financial reporting judgments;
- Oversee the IOC internal control and risk management systems and report to the Executive Board on the types of risk to which the IOC is exposed;
- Verify that effective business continuity plans are in place;
- Review compliance with policies, procedures, and applicable regulations, including arrangements by which IOC staff and suppliers may, in confidence, raise concerns about possible improprieties in matters of ethics or financial reporting; and
- Advise the Executive Board for the approval at the annual Session of the appointment, re-appointment, or removal of the external auditor. Approve the appointment and removal of the Chief Internal Auditor and monitor the effectiveness of the internal audit function.
Some of the above was taken from the IOC official website. Please refer to the following link for further details, especially of current members of this commission.