The Independent Office of Evaluation of IFAD (IOE), previously called OE, is responsible for evaluating IFAD-financed policies, strategies and operations. The Fund’s independent evaluation processes are guided by the principles outlined in the Evaluation Policy, first approved by the Executive Board in April 2003 and revised in 2011. It is since 2003 that IOE is fully independent from the Management and reports to the IFAD Executive Board. The Policy is built on the four principles of accountability, learning, independence and partnership. These principles govern the undertaking of each evaluation by IOE, and the methods and processes that IOE adopts must therefore support them. This requires careful management, as the promotion of one principle may have implications for the others. For example, IOE is committed to ensuring participation throughout the evaluation process as an intrinsic aspect of partnership and to promoting inclusiveness and ownership in evaluation findings and recommendations; yet, in observance of the principle of independence, participation and ownership should not be allowed to influence the evaluative process. Impartiality and the independence of IFAD’s evaluation function are of special importance.