(Above) COA International Audit and Relations Office Director Lito Q. Martin presents the Report of the External Auditor to the Governing Body of the United Nations Industrial Development Organization's Programme and Budget Committee on 14 May 2019.
The Commission on Audit (COA), in its capacity as External Auditor of the United Nations Industrial Development Organization (UNIDO), highlighted the importance of a robust framework to ensure a culture of accountability in its Long Form Report presented to the UNIDO Governing Body.
COA Chairperson Michael G. Aguinaldo highlighted the “need for UNIDO to develop a robust Accountability Framework, reflecting the organizational components such as, well-defined staff roles and responsibilities, and the culture of accountability, and transparency in the Organization.”
He also recommended updating of UNIDO’s Internal Control Framework in order to provide clarity of accountabilities on internal control management, among other recommendations.
He further recommended improvement opportunities in the implementation of results-based management, enterprise-risk management, and project management.
The Report was presented to the Governing Body of the UNIDO’s Programme and Budget Committee by COA International Audit and Relations Director Lito Q. Martin during the Committee’s 35th Session in May 2019.
The objectives of the audit were to provide independent assurance to the Member States on the fair presentation of UNIDO’s set of financial statements, support the enhancement of transparency and accountability within the Organization, and help achieve its operating objectives through the audit. COA raised improvement opportunities in the area of financial transactions’ processing, accounting and reporting and to ensure the fair presentation of the financial statements in the next reporting period. The scope of audit involved the examination and analyses of existing governance policies and approaches along the areas of accountability, risk management and internal control, including related tools and frameworks with the end-view of determining if these are effectively designed and function as expected within UNIDO’s overall governance activities and processes.
“We will continue to provide you with independent assurance on the financial statements and operations of UNIDO and we will remain steadfast in performing our mandate with independence and tenacity,” the Chairperson said.
Representatives of Member States, including those of the Group of 77 + China, GRULAC, European Union, Russian Federation and Mexico, acknowledged COA’s recommendations and encouraged the UNIDO to take the necessary actions to address and implement them. #