Senator Mark Villar, principal author and sponsor of the Maharlika Investment Fund bill, discussed the checks and balances incorporated in the MIF bill.
“We made sure that better safeguards are in place. To start with, a Risk Management Committee consisting of five members will watch over the corporation.
“In addition, the MIF is mandated to engage an Internal Auditor, who shall be independent of the management of the MIC and under the direct control and supervision of the Board of Directors, and an internationally recognized auditing firm to be an External Auditor.
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