Internal auditor

INTERNAL AUDITOR

- verified internal auditor,

(4) IBAN means: International Board of Auditors for NATO

Consultation between external and internal auditors should be encouraged.

Internal auditors should have unrestricted access to the Chair and members of the entire board and its audit committee.

The auditor shall examine the accounts of the Agency and shall make such observations and recommendations as deemed necessary with respect to the efficiency of the management and the internal financial controls.

(i) certified copies of its consolidated financial statements, for such year prepared and audited in accordance with international auditing principles and standards consistently applied, by independent auditors; and

To increase their independence and authority, the internal auditors should work on behalf of, and report directly to the board and its audit committee in onetier systems, to the supervisory board in two-tier systems or the audit boards when these exist.

It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.*` Internal auditors are important to ensure an efficient and robust disclosure process and proper internal controls in the broad sense.

(b) The Board shall approve the annual financial statements submitted by the GM only after taking into account the report of the International Board of Auditors for NATO mentioned in Article 55 below and the comments of any relevant committee on both the statements and the report.

(iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the Project Management Reports or statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

The internal auditor may not be either authorising officer or accounting officer.

The internal auditor performs his duties in accordance with international audit standards.

The internal auditor shall report to the institution on his/her findings and recommendations.

The internal auditor shall perform his/her duties on all the institution's activities and departments.

(1) To carry out the tasks of internal audit, a bank must employ at least one person who has attained the title of auditor or is an examined internal auditor in accordance with the law which regulates auditing.

The internal auditor shall take note of the annual report and any other pieces of information identified.

The Commission's internal auditor shall exercise the same powers over the Agency as over Commission departments.

The Commission's internal auditor will exercise the same powers over these bodies as over Commission departments.

The internal auditor shall also submit to the institution an annual internal audit report indicating the number and type of internal audits carried out, the recommendations made and the action taken on those recommendations.

The Commission's internal auditor shall exercise the same powers over the bodies referred to in paragraph 1 as he/she does in respect of Commission departments.

The internal auditor appointed by the institution shall be answerable to the latter for verifying the proper operation of budgetary implementation systems and procedures.

If the internal auditor is an official or other member of staff, he/she shall assume responsibility as laid down in the Staff Regulations and spelt out in the implementing rules.

In accordance with Article 279(c) of the Treaty, this Regulation defines the powers and responsibilities of authorising officers, the accounting officer and the internal auditor.

The internal auditor is not an actor involved in the financial operations and does not have the role of exercising control over these operations ahead of the decisions by the authorising officers;

Special rules applicable to the internal auditor shall be laid down by the institution and shall be such as to guarantee that he/she is totally independent in the performance of his/her duties and to establish his responsibility.

If the panel detects systemic problems, it shall send a report with recommendations to the authorising officer and to the authorising officer by delegation, provided the latter is not the person involved, as well as to the internal auditor.

In the case of Lloyd's, the calculation of the first result in respect of premiums, referred to in paragraph 3, shall be made on the basis of net premiums, which shall be multiplied by a flat-rate percentage fixed annually by the internal auditor.

The internal auditor of the EDF shall be the internal auditor of the Commission.

The internal auditor shall advise his/her institution on dealing with risks, by issuing independent opinions on the quality of management and control systems and by issuing recommendations for improving the conditions of implementation of operations and promoting sound financial management.

There is a conflict of interests where the impartial and objective exercise of the functions of a player in the implementation of the budget or an internal auditor is compromised for reasons involving family, emotional life, political or national affinity, economic interest or any other shared interest with the beneficiary.

In cases not involving fraud, in order to provide the appointing authority with the necessary expertise, each institution will set up a specialised financial irregularities panel which will determine whether or not an irregularity has occurred which could make the official or other servant liable to disciplinary action or payment of compensation and, if it has detected problems with systems, to report to the authorising officer and the internal auditor.

The institutions shall send to the Court of Auditors any internal rules they adopt in respect of financial matters.

The Court of Auditors shall be informed of the appointment of authorising officers, internal auditors, accounting officers and imprest administrators and of delegation decisions under Articles 51, 61, 62, 63 and 85.

4. explain to the general meeting of shareholders their opinion on the internal auditors' annual report and on the board of directors's annual report.

(2) Internal audit carries out internal audits of the operations in accordance with professional principles and standards of internal auditing, the code of professional ethics of internal auditors and the rules of operation of internal audit which shall be adopted by the management board of the bank with the consent of the supervisory board.

The other services and internal audit bodies of the national administrations concerned shall afford the Court of Auditors all the facilities which it considers necessary for the performance of its task.

(1) Auditing shall be carried out in the manner as provided by this Act, by the principal accounting policies, by other auditing rules adopted by the Slovenian Institute of Auditors (hereinafter referred to as " the Institute "), as well as by the International Standards on Auditing and International Auditing Practice Statements adopted by the International Auditing Practices Committee of the International Federation of Accountants, by other laws governing the auditing of individual legal persons and other forms of auditing, and by the rules adopted on the basis thereof (hereinafter referred to as " the auditing rules ").

(3) Internal audit must harmonise the methods of its work with the work of external auditors of the bank who examine annual financial statements or carry out a special audit at the request of the Bank of Slovenia or a special or extraordinary audit on the basis of the provisions of the Law on Mergers (Official gazette of the Republic of Slovenia, No. 47/97).

The College may ask the Commission's internal auditor to carry out these duties.

The internal auditor may not be either the authorising officer or the accountant.

The internal auditor shall report to the Commission on his findings and recommendations.

The Commission's internal auditor shall exercise the same powers over the Agency as over Commission departments.

The annual activity report and other specified information shall be brought to the attention of the internal auditor of the Commission.

If the panel detects systemic problems, it shall send a report with recommendations to the Chief Authorising Officer and to the internal auditor.

Decisions taken pursuant to paragraphs 2, 3 and 5 shall be notified to the delegates, the accounting officer, the internal auditor and the Court of Auditors.

The internal auditor shall also submit to the Commission an annual internal audit report indicating the number and type of audits carried out, the recommendations made and the action taken on those recommendations.

Decisions taken pursuant to the first subparagraph shall be notified to the delegates, the Chief Authorising Officer, the internal auditor and the Court of Auditors.