(b) Travel expenses related to the newly established Audit Committee

Knowing who their new and existing customers, including beneficial owners, are is a prerequisite for the identification of accounts related to terrorism.

The Secretary General has the honour to transmit to the General Assembly a letter dated 1 July 2005 (see annex) from the Chairman of the Board of Auditors transmitting the report of the Board on implementation of its recommendations relating to the biennium 2002 2003, submitted in accordance with General Assembly resolution 52 212 B of 31 March 1998 and paragraph 9 of General Assembly resolution 58 249 A of 23 December 2003.

This provides a management summary of key audit recommendations raised by the UNBOA with updates on key issues.

(e) Rendering advice on audit related matters to the Secretary General and departmental heads as it deems appropriate

Based on the evaluation and audit recommendations, the Unit provides policy advice for improved programme management and implementation.

However, it could be useful for enterprises to disclose a substantial definition of those activities that would be regarded as non audit related, especially in those cases where audit and non audit related fees are not subject to mandatory disclosure.

The actual costs will be determined after the closure of the sessions and completion of related work, with all relevant expenditures recorded in the accounts.

Related to this subject is the recommendation of the Board of Auditors that covered the issue of governance principles and best practices related to financial reporting.

At its eighth session, the Conference took note in decision GC.8 Dec.11 of the information provided at the request of the External Auditor in document IDB.20 6 on audit related matters, containing in annex 1 a suggested revision to paragraph 5 of the annex to the financial regulations.

In addition, I have the honour to present the report of the Board of Auditors with respect to the above accounts, including an audit opinion thereon.

Open Accounts

All accounts

Special accounts.

b Outposted to the Department of Economic and Social Affairs for financial matters related to technical cooperation.

Monitoring of accounts

Report by the Director General

Health accounts

Principal accounts

My team conducted a strategic planning visit during November 2004 aimed at developing the audit strategy for the biennium, and performed the detailed planning in order to update their knowledge of the organisation's business and related systems.

(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

Any statement of ex gratia payments is submitted to the Board of Auditors with the annual accounts.

(Signed) Philippe Séguin First President of the Court of Accounts of France (Lead Auditor)

Audit process

External auditors

Internal auditors

Scope of audit

Audit opinion

Resident auditors

(i) Accounts Unit

External audit

Internal audit

Audit costs

Opening of bank accounts

Accounts payable

(ii) Accounts Division

Reconciliation of bank accounts

These structures may include committees or groups to which the board has assigned duties regarding the oversight of executive remuneration, audit matters, appointments to the board, and the evaluation of management performance.

I have the honour to transmit to you the report of the Board of Auditors on implementation of its recommendations relating to the biennium 2002 2003, in accordance with paragraph 5 of General Assembly resolution 52 212 B of 31 March 1998.

The auditor has also told the Commission that he does not believe that his firm prepared these accounts.

(c) Audits to be carried out by resident auditors in the peacekeeping missions.

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

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.

Annual report and audit

That is the right calculation.