The committee shall ensure the completeness and reliability of the financial accounting and review the financial statements, the consolidated financial statement and the external auditors’ report. It shall also advise and assist the Executive Committee in monitoring the Association’s financial and compliance matters and issue and monitor compliance with the relevant regulations of FAM. The committee members shall be knowledgeable and experienced in financial and/or regulatory and legal matters and may not be involved in any decision affecting the operations of FAM. The chairman, deputy chairman and the members of the Audit and Compliance Committee shall be proposed by the Executive Committee and endorsed by the General Assembly for a period of four years and may only be relieved of their duties by the General Assembly