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Audit, Risk and Compliance Committee

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The role of the Audit Committee is to assist the Board of Directors in fulfilling its responsibilities with regard to the Fund’s internal control system. The Audit Committee is responsible for supervising internal, accounting and financial reports, compliance with the Fund’s regulatory requirements, and reviewing accounting policies. The Audit Committee also supervises the internal audit unit and the certified public accountant, and the members of the Audit Committee enjoy complete independence.
And its functions and responsibilities are summarized as follows:
Supervising the Fund’s internal audit unit to ensure efficiency in performing the assigned activities and tasks assigned to it by the Board of Directors.
Submitting recommendations to the Board of Directors regarding the appointment or termination of the services of chartered accountants, taking into account its independence while making recommendations.
Reviewing the annual financial statements before presenting them to the Board of Directors and submitting its observations and recommendations on these statements to the Fund’s Board of Directors.
Ensure the diversification of sources of financial resources in accordance with the Fund’s organization.
Reviewing the scope of work and the internal audit plan at the Fund.
Ensuring the independence of the director of the internal audit unit.
Reviewing the report on university deposits submitted by the General Secretariat and reviewing the cash flows received to the Fund from university deposits and the efforts made by the Fund to speed up their collection.
The Audit Committee and the Director of the Internal Audit Unit discuss the internal audit reports and management work procedures and follow up on their work periodically.
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Investment Committee

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The Investment Committee periodically submits its recommendations to the Fund’s Board of Directors regarding the investment strategy and supervision of the implementation of investment programs.
Its tasks are as follows
Supervising the implementation of the fund’s investment strategy approved by the esteemed Board of Directors.
Evaluating the Fund's investment policies, strategies and guidelines.
Monitor the performance of asset managers and external advisors.
Approving the Fund’s investments in accordance with the approved authority matrix.
Submit recommendations to the Board of Directors as needed.
Carrying out any activities consistent with applicable regulations and policies.
Periodic review of the target asset allocation strategy, reference indicators, and any measurement tools used by the fund to monitor the performance of the investment portfolio.
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Advisory Committee

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It is concerned with the participation of universities that are not represented on the Board of Directors. It reviews all of the Fund’s work and provides consultations and recommendations to the Council. This committee aims to increase the participation of universities in decision-making.
Its tasks include the following:
Strengthening the role of the Fund and increasing the bonds of cooperation and interconnection between it and universities.
Contributing to addressing some of the needs of universities.
Contributing to increasing the financial resources of universities.
Contributing to developing the investment capabilities of universities.
Representing universities not represented on the Board of Directors.
Working with universities to develop investment plans and assist in their implementation.
Recommending applications for funding projects submitted by universities to the Fund.