The Committee was informed by the Audit Operations Committee of the Board that the Board would review this report of the Secretary General in conjunction with the next audit of peacekeeping operations.

As indicated to the Advisory Committee by the Audit Operations Committee of the Board of Auditors, the Board intends to review this issue in the course of the next audit of peacekeeping operations.

Audit opinions qualified by the Board

The Chairman of the Audit Operations Committee of the Board of Auditors introduced the report of the Board (A 60 5 (Vol. V)).

The Committee also recommends that UNHCR and the Board discuss the modalities for planning for biennial audit.

The Committee also recommends that UNHCR and the Board discuss the modalities for planning for biennial audit.

The present practice for determining the amount of the audit fee is that the Board presents the allocation of audit assignments to the Committee for concurrence.

If the board of the securities firm is set up with remuneration and nomination committee, audit committee, the principals of these committees should be undertaken by independent board director.

The Audit Operations Committee of the Board informed the Advisory Committee that the comments by the Board related to claims in categories A C as indicated in paragraph 165.

To enable the Board to carry out its mandate through the integration of audit planning, execution and reporting and to enhance the development of common audit standards and professional practices, an Audit Operations Committee was established comprising three full time Directors of External Audit, located at Headquarters, representing each member of the Board.

In paragraph 313, the Board recommended that UNICEF review its internal audit procedures and work with the Audit Committee to ensure it significantly improves its report issuance lead time.

6. The Advisory Committee discussed the audit assignments with the Audit Operations Committee.

3. Notes that the Standing Committee of the United Nations Joint Staff Pension Board will consider, in 2005, the desirability of and possible terms of reference for an audit committee of the Board

The Director of External Audit of the Philippines and Chairman of the Audit Operations Committee of the Board of Auditors, Mr. Sabiniano Cabatuan, introduced the reports of the Board of Auditors (A 60 5 Add.5 and A 60 113).

United Nations Board of Auditors 2002 2003 audit observations

In paragraph 150 of its report, the Board recommended that UNRWA consider including external members on its Audit and Inspection Committee.

Independent Audit Advisory Committee

Independent audit advisory committee

The Committee was informed by the Audit Operations Committee of the Board that the financial statements and accounts for the period ending 31 December 1997 had been received by the Board on 16 April 1998.

UNDP accepts all 115 audit recommendations identified by the Board.

The Board holds regular coordination meetings with the peacekeeping audit services unit at Headquarters during its audit process.

Furthermore, the Board notes that responsibility for proper financial statements ultimately rests with the Commissioner General, to whom the Audit Inspection Committee reports.

The Board will review the compensating measures during its next audit.

The Board plans to review this application in its next audit.

79. The Board trusts that the medium term audit plan for the UNHCR audit section will also be finalized expeditiously.

At the present time, audit assignments are shared among the audit staff provided from the audit services of the members of the Board on an equal basis.

The Committee met with the Audit Operations Committee of the Board of Auditors and will submit its comments and recommendations to the General Assembly at its fifty third session.

3. The Board welcomes the implementation of the new audit strategy. However, the Office of Audit and Performance Review received insufficient audit reports for the biennium 1996 1997 and the Board comments on this in more detail in its present report.

Audit of the Committee on Contracts

Audit of the Committee on Contracts

Audit of the Committee on Contracts

This evaluation will also prepare the UNHCR Audit Service for the external audit envisaged by the United Nations Board of Auditors.

IAMB also received a briefing from the Iraq Board of Supreme Audit.

(f) External audit fees of 45,500 for the Board of External Auditors

In paragraph 212 of its report, the Board recommended that UNDP address the shortcomings identified between the Management Review and Oversight Committee and best practices for an audit committee function.

In paragraph 300, the Board recommended that UNICEF review the terms of reference of its audit committee in line with the United Nations governance review.

UNHCR's internal audit plan is developed in close consultation with management, the Oversight Committee, the Inspector General's Office and the United Nations Board of Auditors.

The Committee was also informed that, based on revised information provided by the Board of Auditors, provision under audit services could be reduced by 4,700.

Moreover, in paragraph 54 of that report, the Committee, in accordance with financial regulation 12.7, requested the Board to conduct a follow up audit of its finding on letters of assist in conjunction with its next audit.

During its consideration of the report the Advisory Committee had an exchange of views with representatives of the Secretary General and with the Audit Operations Committee of the Board of Auditors.

(Signed) Guillermo N. Carague Chairman of the Board Chairman, Philippine Commission on Audit

21. The Board will keep this matter under review. Chapter III Audit opinion

During its consideration of this item, the Committee met with the Chairman of the Standing Committee of the Board, the Secretary of the Board and, with regard to audit operations and investments of the Fund, with the representatives of the Secretary General.

Strengthen the role of the audit committee of the board and establish the basic framework of information disclosure for environment, social responsibility and corporate governance (ESG).

The scope of work and responsibilities of an internal audit function are often determined by the board (or management board in a two tier system), typically in conjunction with the audit committee, and can vary significantly depending on the size, structure and complexity of the company and the resources allocated.