The External Audit Committee (EAC)

Last Updated: November 01, 2017

The External Audit Committee (EAC) has three members, all of whom are independent of the IMF and its Executive Board. The EAC reports to the Board of Governors and is responsible for the oversight of the IMF's external audit, internal audit, financial accounting and reporting, risk management and internal control functions. EAC members each have the accounting and financial expertise required to fulfill the EAC's oversight responsibilities.

Terms of Reference of the External Audit Committee

Members of the IMF's External Audit Committee:
Mr. Kamlesh Vikamsey, Chair (India)
Ms. Kathy Hodge (Antigua and Barbuda)
Ms. Kathryn Cearns (United Kingdom)


Mr. Kamlesh Vikamsey, Chair (India)

Mr. Vikamsey has served as a member of the Fundís External Audit Committee since November 2015. Mr. Vikamsey, a chartered accountant, is currently the senior partner of Khimji Kunverji & Co., a member of HLB International, a leading mid-tier accounting network. Mr. Vikamsey has over 30 yearsí experience in financial reporting, external audit, and governance. He is a member of multiple advisory boards and an independent director of a variety of companies in India.

Prior to joining the Fundís External Audit Committee, Mr. Vikamsey was the Chair of the Audit Advisory Committee of the United Nations Development Programme. He also formerly served as president of both the Institute of Chartered Accountants of India and the Confederation of Asian and Pacific Accountants, and is a former Board member of the International Federation of Accountants.

Mr. Vikamsey has served as a committee member for the Government of India, the Reserve Bank of India, the Securities and Exchange Board of India, and the Insurance Regulatory and Development Authority of India. He was also a member of the United Nations Steering Committee for Comprehensive Review of Governance and Oversight.


Ms. Kathy Hodge (Antigua and Barbuda)

Ms. Hodge has served as a member of the External Audit Committee since November 2016.

Ms. Hodge is a chartered accountant with over 20 years' experience in external audit, International Financial Reporting Standards (IFRS), internal controls, risk management, and governance. She is currently an audit partner of Grant Thornton, where she specializes in international financial institutions, manages the firm's quality control practice and related compliance function, and is a thought-leader on technical IFRS matters. Prior to Grant Thornton, Ms. Hodge was a partner of PricewaterhouseCoopers Antigua.

Ms. Hodge is a Fellow of the Association of Chartered Certified Accountants (ACCA) of the United Kingdom, and a practicing member of both the ACCA and the Institute of Chartered Accountants of the Eastern Caribbean.


Ms. Kathryn Cearns (United Kingdom)

Ms. Cearns has served as a member of the Fund’s External Audit Committee since November 2017.

Ms. Cearns has more than 30 years of experience in the field of reporting and corporate governance. She is currently an independent consultant providing advice on corporate reporting, auditing and corporate governance, and is a non-executive board member and audit committee member for several institutions, mainly in the public sector or with a public interest remit. Ms. Cearns writes extensively on audit, company law, financial reporting and corporate governance, including various articles for accounting and legal journals.

Ms. Cearns is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and sits on its Council. She has long experience in the development of IFRS and their application in both the private and public sectors. She is the outgoing chairman of the Financial Reporting Committee of the ICAEW, a member of the Consultative Advisory Group of the International Public Sector Accounting Standards Board, and the immediate past chairman of the Financial Reporting Advisory Board to HM Treasury (the UK economic and finance ministry).