2 The risk control indicators comply with the relevant stipulations and the financial status and compliance status are sound

(1) studying out enterprise internal financial management rules, financial strategies, financial plans, preparing financial budgets

(b) That the financial transactions reflected in the statements have been in accordance with these Regulations and the Financial Rules, the budgetary provisions and other applicable directives

28G.15 The Budget and Financial Management Service is responsible for providing financial services to UNEP, UN Habitat and the United Nations Office at Nairobi.

(1) examining and approving the internal financial management system, financial strategy, financial plan and financial budget of the enterprise

Goods and services have been procured in accordance with the procedures provided for in the Financial Regulations of the United Nations and

The financial statements were prepared in accordance with the stated accounting policies and

(iv) Financial regulations and rules

The financial management of an enterprise shall consist such financial behaviors as raising funds rationally, operating assets effectively, controlling the cost, regulating the income distribution and reorganization and liquidation, and strengthening financial supervision and financial information management in accordance with the formulated financial strategy.

They are promulgated pursuant to the Financial Regulations of the United Nations.

6. Financial rule 110.25 and ST AI 374 specify the requirement for controls and for the maintenance of property records for United Nations owned property.

(a) The accounts are maintained in accordance with the Financial Regulations of the United Nations as adopted by the General Assembly, the rules formulated by the Secretary General as required under the regulations, including the Financial Rules of the Fund of the United Nations Environment Programme, specific decisions of the Governing Council of UNEP and administrative issuances, and in conformity with generally accepted accounting principles.

As the financial system operated by the Office does not record forward commitments, the financial statements do not comply with paragraph 41.

The Fund is administered by the Secretary General in accordance with the financial rules and regulations of the United Nations.

Bearing in mind the rules of procedure of the General Assembly and the Financial Regulations and Rules of the Organization,

3. In addition to the audit of the accounts and financial transactions, the Board carried out reviews under regulation 12.5 of the Financial Regulations and Rules of the United Nations.

These payments were made contrary to United Nations financial rule 110.5, which requires that

4. Establishment of the Revolving Credit Fund would constitute a major addition to the financial arrangements set out in the Financial Regulations and Rules of the United Nations.

In accordance with financial regulation 11.4, I have the honour to submit the financial statements of the Fund of the United Nations International Drug Control Programme for the biennium 1996 1997 ended 31 December 1997.

The sums derived from such savings should be reimbursed to Member States in accordance with the Financial Rules and Regulations of the United Nations.

4. Recalls the relevant provisions of the Financial Regulations and Rules of the United Nations ST SGB 2003 7.

REVISED DRAFT FINANCIAL RULES OF THE FUND OF THE UNITED NATIONS INTERNATIONAL DRUG CONTROL PROGRAMME

Reaffirming financial regulation 7.2 and financial rule 107.7 of the Financial Regulations and Rules of the United Nations,

Sir, Pursuant to regulation 11.4 of the Financial Regulations of the United Nations and rule 213.3 of the Financial Rules of the United Nations Environment Programme, I have the honour to transmit the financial report and accounts of the United Nations Environment Programme, including associated trust funds and other related accounts, for the biennium ended 31 December 1997, which I hereby approve.

Annexes I. Revised draft financial rules of the Fund of the United Nations International Drug Control Programme 26

COMPARISON OF THE REVISED DRAFT FINANCIAL RULES OF THE FUND OF THE UNITED NATIONS INTERNATIONAL DRUG

B. Administrative and financial arrangements for the Fund of the United Nations International Drug Control Programme 35 9

B. Administrative and financial arrangements for the Fund of the United Nations International Drug Control Programme

(1) supervising the implementation of the rules and regulations concerning enterprise finance, directing the enterprises to set up and perfect the internal financial systems in accordance with the financial relations

2. Once the list of experts has been finalized, the Secretary General will subsequently have all travel arrangements made in accordance with United Nations financial rules and regulations.

4. In addition to the audit of the accounts and financial transactions, the Board carried out reviews under article 12.5 of the Financial Regulations of the United Nations.

The following appended financial statements, comprising Statements I to IV, relevant schedules and supporting notes, were properly prepared in accordance with the United Nations System Accounting Standards and article X of the Financial Regulations of UNIDO.

In accordance with our usual practice, we have also issued a long form report on our audit of the United Nations Joint Staff Pension Fund s financial statements as provided for in the Financial Regulations.

This submission is made in conformity with the United Nations Office for Project Services Financial Regulations and Financial Rules of the United Nations Development Programme (UNDP), which are applicable to the Office mutatis mutandis.

The financial regulations of the United Nations and the financial procedures of the UNFCCC shall apply.

(a) For accurate financial reporting, provision should be made in the financial statements for delays in the collection of assessed contributions in accordance with the requirements of the United Nations accounting standards

3. In addition to its audit of the accounts and financial transactions, the Board carried out reviews under article 12.5 of the United Nations Financial Regulations.

3. In addition to its audit of the accounts and financial transactions, the Board carried out reviews under regulation 12.5 of the Financial Regulations and Rules of the United Nations.

In accordance with article XII of the Financial Regulations, we have also issued a long form report on our audit of the financial statements of the United Nations Environment Programme.

Article 4 The Ministry of Finance shall be responsible for instituting the rules and regulations on enterprise finance.

DM OPPBA Office of Programme Planning, Budget and Accounts

The compliance chief shall be a senior manager of the parent company, and may not concurrently take charge of the business department or the financial department.

(ii) The appropriation for technical cooperation programmes of the regular budget is administered in accordance with the Financial Regulations of the Organization.

UNEP serves as the Treasurer of the Fund.

B. Limits of the conventional financial reporting model