The Audit Committee assists Provident's Board of Directors in fulfilling its oversight responsibilities with respect to:

• the review and recommendation for approval of the financial statements and the financial reporting of the Trust;
• the assessment of the system of internal, accounting and financial reporting controls and procedures that management has established, including for the purpose of monitoring its compliance with regulatory requirements;
• the appointment, compensation and evaluation of the external auditors' qualifications and independence.

In addition, the Audit Committee assists the Board as requested in fulfilling its oversight responsibilities with respect to:

• financial policies and strategies;
• financial risk management practices; and
• transactions or circumstances that could materially affect the financial profile of the Trust.

Complete details of Audit Terms of Reference.