Follow up of the recommendations made in prior external audit reports

External audit

UNHCR planned to invite a representative of the Board of Auditors to attend the review of external audit reports.

The working group fully supported the resources requested for external audit ( 479,900) and internal audit ( 1,240,700).

(d) Enhancement of the external audit functions of the Fund and expansion of the Fund's internal audit coverage

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).

Financial data and reports for audit purposes

Summary of audited activities and audit reports

(d) Assessing the adequacy and effectiveness of internal and external audit services

(i) To consider the effectiveness and objectivity of the external audit process

UNICEF will issue guidance on the follow up of external audit recommendations.

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

All publicly owned enterprises are subject to external audit and accounts are published.

The office of the Director also coordinates the reviews of the internal and external audit functions and ensures the implementation of audit recommendations.

(viii) Identify appropriate key performance indicators for the performance management of external audit services

(c) An informal consultation on UNDP and UNFPA audit reports

This provides an overview of the tools and processes in place to analyse, track and manage external audit recommendations and corporate audit issues at UNDP.

External audit welcomes this initiative to modernise the procurement system, which should carry significant benefits.

During the reporting period, the UNHCR Audit Service issued a total of 31 final Audit Reports (listed in Annex 1).

The Panel reviewed these progress reports, including audit certifications on expenditures.

The United States delegation wondered whether the lower estimated cost of external audits by the Board of Auditors reflected reduced audit coverage or better audit efficiency.

An external audit was something completely separate from and outside the management structures of an organization.

This recommendation is related to the recommendation of paragraph 195 of the 2004 External Audit Report.

b. Parliamentary documentation audit reports on the basis of audits conducted (8)

It is worth noting that even the organizations that do not have an institutionalized audit committee have set up mechanisms to review internal and external audit matters as well as progress made in implementing audit recommendations.

(ii) Audits facilitation of internal and external audits and follow up on the implementation of audit recommendations

The standard time frame for the issuance of audit reports is to be examined as part of the review of its audit procedures.

Following previous external audit recommendations on this matter, UNHCR has introduced a new policy on audit certification for implementing partners which will affect projects as of 1 January 2004.

423) and plan and implement the audit of headquarters offices (para. 429), including audit coverage of the Treasury Division (para. In addition, the Office of Audit and Performance Review will leverage the newly implemented software AutoAudit and the use of a revised template of audit reports to closely monitor the timely issuance of audit reports within the standard time frame of three months (para.

The audit committee should play a role in establishing a policy on purchasing non audit services from the external auditor this policy should be disclosed along with an explanation or assessment of how this policy sufficiently ensures the independence of the external auditor (FEE, 2003a).

With respect to recommendation 13, strengthened financial monitoring , including a threshold for audit reports, the Board, at its twenty third session, established that grantees receiving less than 15,000 are not required to produce audit reports.

The status of the implementation of external and internal audit recommendations was reported regularly to the Oversight Committee.

The Oversight Committee discussed for the first time in May 2005 the audit reports with an audit rating of below average or seriously deficient.

The UNFPA Audit Services Branch sends reminders regularly and has enlisted the assistance of the UNFPA geographical divisions to obtain outstanding project audit reports.

Under the cost sharing arrangements, it is estimated that approximately one half of external audit costs are expended on the audit of administrative operations and one half on investment operations.

The UNHCR Audit Service works in close cooperation with UNHCR's Inspector General's Office and liaises with the United Nations Board of Auditors to ensure coordination between external and internal audit.

(a) Reviewing the strategy and workplans of internal and, in some organizations, external audit and discussing the scope and content of their audits so as to identify audit priorities and suggesting potential audit areas within which to address the organization's risks

Accordingly, most governance codes and guidelines define procedures for enhancing the independence, objectivity and professionalism of the external audit.

The Office of the Comptroller General has proved to be helpful in facilitating the implementation of external audit recommendations.

The reduction in the estimated costs of external audit reflects a reduced provision by the Board of Auditors ( 27,000).

In paragraph 389, the Board recommended that UNICEF issue an instruction on the follow up of external audit recommendations.

(1) Where a securities firm does not undertake audit on the departure of its legal representative or senior manager and submit audit reports according to provisions

The Audit Services Branch has sent reminders on a regular basis and has enlisted the assistance of the geographic divisions to obtain outstanding project audit reports.

Furthermore, in light of UNIDO's limited financial resources for external audit costs, the Philippines Commission of Audit was ready to modify its proposed audit fee, but without in any way compromising the quality of services Mr. Carague and his team intended to render.

A number of approaches regarding the external audit, such as the need for auditor partner rotation and the avoidance of possible conflicts of interest involved in providing non audit services, can be considered to ensure that external audits serve shareholder and other stakeholder interests in the intended manner.