Revised charter of the IFAD Office of Audit and Oversight
The IFAD Office of Audit and Oversight (AUO) comprises the Fund's internal auditing and investigation functions. The audit activities of AUO are conducted in conformity with the IFAD Code of Conduct and International Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors (IIA).
The IIA standards require that AUO has a formal charter that defines AUO's purpose, authority and responsibilities.
The AUO Charter:
- establishes AUO's position within the organization;
- authorizes access to records, personnel, and physical property relevant to the performance of its audit engagements; and
- defines the scope of its activities.
The contents of the Charter reflect the attribute, performance and implementation expectations set by the standards. The AUO Charter also reflects the purpose, authority and responsibilities relative to the AUO investigation function.
Legal document, Procedure