Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 337

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 337
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Grace A. Huebscher•Jane E. Prokop(5)•Roy Swan(1)Risk Committee5Grace A. Huebscher•Mark H. Bloom•Luke S. Hayden•Christopher E. Herbert•Jane E. Prokop(5)

(1)Mr. Swan was elected to the Board and appointed a member of the Audit, CHC, and Operations and Technology Committees effective February 19, 2024. 

(2)Mr. Chavers left the Nominating and Governance Committee and was appointed Chair of the CHC Committee and a member of the Executive Committee effective February 19, 2024. 

(3)Mr. Drummond left the Audit, CHC, and Operations and Technology Committees, and was appointed Non-Executive Chair of the Board and Chair of the Executive Committee, effective February 19, 2024. 

(4)Mr. Gillani left the CHC Committee and was appointed a member of the Nominating and Governance Committee effective February 19, 2024. 

(5)Ms. Prokop was elected to the Board and was appointed a member of the Operations and Technology and Risk Committees effective January 2, 2025.

FREDDIE MAC  |  2024 Form 10-K229

Directors, Corporate Governance, and Executive OfficersCorporate Governance

Audit Committee

The Audit Committee provides oversight of the company's accounting and financial reporting and disclosure processes, the adequacy of the systems of disclosure and internal control established by management, and the audit of the company's financial statements. Among other responsibilities, the Audit Committee: (1) appoints the independent auditor and evaluates its independence and performance; (2) reviews the audit plans for and results of the independent audit and internal audits; and (3) reviews compliance with legal and regulatory requirements. The Audit Committee's activities during 2024 with respect to the oversight of the independent auditor are described in more detail in Principal Accounting Fees and Services - Approval of Independent Auditor Services and Fees. The Audit Committee also reviews, discusses and, in certain cases approves any sustainability reporting and disclosures determined by management to be significant. 

The Audit Committee periodically reviews the company's guidelines and policies governing the processes for assessing and managing the company's risks and periodically reviews the company's major financial risk exposures and the steps management has taken to monitor and control such exposures. The Audit Committee also approves all decisions regarding the appointment, removal, and compensation of our General Auditor, the head of our Internal Audit Division,