Article 24 An enterprise shall set up a financial examination system on contract and clarify the operational flow and power limits of examination so as to carry out financial supervision.

Therefore, the proposal should be viewed as part and parcel of the organization's cost containment strategy, for which the following key elements remain New requirements related to strategic investments funded from internal re deployment of resources and Continuous review and upgrade of UNDP business processes and organizational structures to generate operational efficiencies.

Article 62 An enterprise shall gradually create conditions to plan the resource of the enterprise as a whole, comprehensively integrate and regulate the financial and operation flow, and conduct integrated management and operation of the logistics, capital flow and information flow of the enterprise.

Audit of air operations

The Board conducted not only financial statement audits but also operational and compliance audits.

Efficiency gains totalling 5.0 million in areas of management and operations resulting, inter alia, from the implementation of Atlas and business process re engineering.

The Board of Auditors has audited the operations of the United Nations Institute for Training and Research (UNITAR). The Board also validated the financial statements of UNITAR for the year ended 31 December 1997, and conducted two management audits, covering the establishment of a Recruitment and Promotion Board and the procurement procedures.

The audits of Treasury and the relevant specialist areas have been included in the 2005 audit plan of the Internal Audit Section of the Office of Audit and Performance Reviews.

These statements have been examined and include the audit opinion of the Board of Auditors.

These statements have been examined and include the audit opinion of the Board of Auditors.

The market for BPO is expanding, with some sources projecting the value of BPO to reach the range of 300 billion to 585 billion by 2005.

(8) examining the important internal rules and systems and business flow of the company, and, according to laws, regulations and supervisory provisions, proposing suggestions on setting down or revising certain inner rules and systems or business flow in light of the variation and development of the self discipline rules of the industry

One prime example is that of business process outsourcing (BPO) services, where developing countries' participation is expected to grow.

The audit manual should be revised to take account of the changes in the Agency s operations (para. 63).

(3) setting up and perfecting the enterprise auditing system of annual financial report so as to examine the quality of the annual financial report

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

The audit certificate accompanying each audited financial statement typically certifies the procedures undertaken in relation to the audit and authenticates the financial statements.

Agenda item 121 Financial reports and audited financial statements, and reports of the Board of Auditors (continued)

The Board noted that monitoring and control procedures were operational in nature and therefore should continue to be reviewed by the internal auditors.

54. The Director of DOS stated that many of the issues raised by the Board of Auditors are being dealt with in the context of the development of the OMS.

Agenda item 121 Financial reports and audited financial statements, and reports of the Board of Auditors (continued)

Agenda item 106 Financial reports and audited financial statements, and reports of the Board of Auditors (continued)

(4) situation of the internal management system and operation flow

The Board s computation of the liquidity ratio of the greeting card and related operations at 30 April 1997 disclosed that its current assets were 4.3 times the current liabilities, thus showing a favourable position.

The Board of Auditors has audited the operations of the United Nations Office for Project Services.

As to the investments area, a qualified outside firm has been engaged after an extensive bidding process, to carry out, under the supervision of OIOS, an operational audit of the Fund apos s investment decision making process and activities the operational audit by that firm began in June 1998.

They audits will focus on financial procedures and controls.

It is expected that this review will lead to the adoption of revised formal guidelines and procedures which will govern the treasury operations at offices away from Headquarters.

The Board of Auditors has audited the operations of the United Nations Population Fund (UNFPA).

The Board of Auditors had recommended that the review of processes, reports and procedures to facilitate the preparation of the financial statements be undertaken.

The new D 2 post will head audit operations based in Geneva.

The Office of Audit and Performance Review has incorporated procedures in its country office audit guide to ensure that audit clauses are included in all project agreements.

The Board of Auditors has audited the financial transactions made in respect of the capital master plan and has reviewed its operations for the period from 1 January to 31 December 2004.

Agenda item 113 Financial reports and audited financial statements, and reports of the Board of Auditors

Key duties include authorizing and recording transactions, issuing and receiving assets, making payments and reviewing or auditing transactions.

One D 1 post would be redeployed from Internal Audit in New York to Internal Audit in Geneva to strengthen audit operations handled from the Geneva office.

Agenda item 121 Financial reports and audited financial statements, and reports of the Board of Auditors (continued) (A C.5 60 L.6)

Agenda item 106 Financial reports and audited financial statements, and reports of the Board of Auditors (continued) (A C.5 59 L.50)

ITLOS income in the Financial Period 2003 totalled assessed contributions of USD 7,798,300.

Agenda item 106 Financial reports and audited financial statements, and reports of the Board of Auditors (continued)

AGENDA ITEM 111 FINANCIAL REPORTS AND AUDITED FINANCIAL STATEMENTS, AND REPORTS OF THE BOARD OF AUDITORS (continued)

Article 69 An enterprise shall accept the financial supervision of the competent authority of finance and the financial auditing of the auditing organ of the state under law.

The study will involve both a business process and technology review.

The Board of Auditors has audited the operations of the United Nations International Drug Control Programme.

The opinion of the Board on the financial position, results of operations and cash flows of the capital master plan will be included in its opinion on the financial statements of the United Nations for the biennium ending 31 December 2005.