Decision ID: 002829

In April 2002 the 1992 Fund Assembly, recalling that it had in October 2001 decided to establish a joint Audit Body for the 1992 Fund and the 1971 Fund, agreed on the composition and mandate of the Audit Body, emphasising that the Audit Body should neither duplicate nor control the work of the External Auditor, who should continue to carry out his work with total independence, that the Audit Body should be advisory and that it should not duplicate the work of the Secretariat or engage in the day-to-day management of the Organisation. It was decided that the Audit Body should adopt its own Rules of Procedure and seek the Assembly’s endorsement of them. It was also decided that it should be made clear at the time of the election of the members of the first Audit Body, which three members should hold office for three years only, that the costs of travel and subsistence of the members of the Audit Body would be paid on the basis of the 1992 Fund Staff Rules. It was noted that the 1971 Fund Administrative Council had at its 7th (April 2002) session taken decisions corresponding to those of the 1992 Fund Assembly.