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.

(5) guaranteeing that the compliance chief can independently communicate with the board of directors, the auditing committee of the board of directors or any other special committee and

(3) possessing smooth reporting channels and reporting the related information to the general manager, the board of directors or the auditing committee thereof through the reporting channels as determined by the board of directors and

(4) making suggestions to the general manager and the auditing committee of the board of directors on better compliance management on a regular basis and reporting the gross violations of the company and the senior managers thereto in a timely manner

(4) verifying the annual and semi annual compliance reports and submitting them to the auditing committee of the board of directors

Article 7 The auditing committee under the board of directors of an insurance company shall discharge compliance duties as follows

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.

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

Board committees

Article 26 The compliance department of an insurance company shall conduct various kinds of compliance investigations in the company according to the requirements of the senior managers, the auditing committee of the board of directors or the board of directors.

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 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.

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

Urges the Board of Trustees of the Institute to complete expeditiously the implementation of the recommendations of the Board of Auditors made in respect of the biennium 2002 2003

Urges the Board of Trustees of the Institute to complete expeditiously the implementation of the recommendations of the Board of Auditors made in respect of the 2002 2003 biennium

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).

In this connection, the Committee requests the Board of Auditors to review the matter at its earliest possible convenience.

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.

The Sub Commission also encouraged members of the Board to attend the next session of the Working Group.

P.O. Box 500 A 1400 Vienna, Austria

An important aspect of performance is the attendance of directors at board and committee meetings.

It invited the members of the Board of Trustees in a position to do so to participate at the twenty third session of the Working Group and decided to continue to examine the situation and the activities of the Fund at its fiftieth session.

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.

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.

GCR participates in the Board of Directors and the Scientific Committees of the programme.

Mr. Cabatuan (Chairman of the Audit Operations Committee of the United Nations Board of Auditors) said that he was encouraged by the General Assembly's use of the Board of Auditors reports as a source of information and recognized that their format and content could be improved.

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.

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.

Independent Audit Advisory Committee

It has become common practice for boards to establish board committees to facilitate fulfillment of certain of the board's functions and address some potential conflicts of interest.

Upon enquiry, the Committee was informed by the Audit Operations Committee that the 5 per cent improvement was due largely to work done by the Board s own auditors in tracking down expenditure and obtaining audit reports.

(Signed) Guillermo Carague Chairman, Philippine Commission on Audit and Chairman, United Nations Board of Auditors

The Board requested that the Advisory Committee on Administrative and Budgetary Questions and Fifth Committee give this suggestion serious consideration.

This overview report would consider the Board's recommendation as well and would be submitted to the Assembly at its resumed sixtieth session.

(d) Rations had been procured without a valid contract at MINURSO ( 744,654), UNMISET (the 2004 05 contract was only signed on 17 March 2005) and UNMEE ( 686,989)

7. Urges the Board of Trustees to complete expeditiously the implementation of the remaining recommendation made by the Board of Auditors in respect of the biennium 2002 2003, while appreciating the work done thus far See A 60 113, annex, sect. IV.G.

(on the Board of Auditors and the Office of Internal Oversight Services)

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

Accept, Sir, the assurances of my highest consideration.

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

It was further agreed that, should the Board s work in auditing transactions that occurred in the accounts of the first year reveal situations that should be brought to the attention of Member States, the Board would report these to the Advisory Committee, which, if it thought necessary, would bring them to the attention of the Assembly.

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.

The Board will continue to monitor the matter in its future audits.

Advisory Committee on Administrative and Budgetary Questions