---
kind: "section"
citation: "22 U.S.C. § 9651"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "9651"
heading: "Establishment of risk and audit committees"
release: "119-102"
url: "https://uscodex.org/usc/22/9651"
units:
  - "Chapter 103 — Better Utilization of Investments Leading to Development"
  - "Subchapter IV — Monitoring, Evaluation, and Reporting"
---

# §9651. Establishment of risk and audit committees

- (a) **In general—** To assist the [Board](/usc/22/2431a.md?p=4) to fulfill its duties and responsibilities under [section 9621(a) of this title](/usc/22/9621.md?p=a), the [Corporation](/usc/22/7702.md?p=6) shall establish a risk committee and an audit committee.
- (b) **Duties and responsibilities of risk committee—** Subject to the direction of the [Board](/usc/22/2431a.md?p=4), the risk committee established under [subsection (a)](#a) shall have oversight responsibility of—
  - (1) formulating risk management policies of the operations of the [Corporation](/usc/22/7702.md?p=6);
  - (2) reviewing and providing guidance on operation of the [Corporation](/usc/22/7702.md?p=6)’s global risk management framework;
  - (3) developing policies for enterprise risk management, monitoring, and management of strategic, reputational, regulatory, operational, developmental, environmental, social, and financial risks;
  - (4) developing the risk profile of the [Corporation](/usc/22/7702.md?p=6), including a risk management and compliance framework and governance structure to support such framework; and
  - (5) developing policies and procedures for assessing, prior to providing, and for any period during which the [Corporation](/usc/22/7702.md?p=6) provides, support to any [foreign](/usc/22/3146.md?p=1) entities, whether such entities have in place sufficient enhanced due diligence policies and practices to prevent money laundering and corruption to ensure the [Corporation](/usc/22/7702.md?p=6) does not provide support to persons that are—
    - (A) knowingly engaging in acts of corruption;
    - (B) knowingly providing material or financial support for terrorism, drug trafficking, or human trafficking; or
    - (C) responsible for ordering or otherwise directing serious or gross violations of human rights.
- (c) **Duties and responsibilities of audit committee—** Subject to the direction of the [Board](/usc/22/2431a.md?p=4), the audit committee established under [subsection (a)](#a) shall have the oversight responsibility of—
  - (1) the integrity of the [Corporation](/usc/22/7702.md?p=6)’s financial reporting and systems of internal controls regarding finance and accounting;
  - (2) the integrity of the [Corporation](/usc/22/7702.md?p=6)’s financial statements;
  - (3) the performance of the [Corporation](/usc/22/7702.md?p=6)’s internal audit function; and
  - (4) compliance with legal and regulatory requirements related to the finances of the [Corporation](/usc/22/7702.md?p=6).

## Source credit

(Pub. L. 115–254, div. F, title IV, § 1441, Oct. 5, 2018, 132 Stat. 3503.)