MANILA, Philippines - Philippine Deposit Insurance Corp. (PDIC) president Jose C. Nograles has been appointed chairman of the audit committee of the International Association of Deposit Insurers (IADI). As committee chairman, Nograles, concurrently a member of IADI’s Executive Council, will oversee the committee that monitors the integrity of the financial statements of the IADI.
The IADI is an international association of deposit insurers aimed at contributing to the stability of financial systems worldwide. It promotes guidance on international best practices in deposit insurance.
The association is composed of 59 members from all over the world, including the Federal Deposit Insurance Corp. (FDIC), the Canada Deposit Insurance Corp., Japan Deposit Insurance Corp., Financial Services Authority of the United Kingdom, and the Deposit Protection Fund of the Association of German Banks.