Panel Achievements

 

Among the achievement of the Panel over the years are:

  • Was instrumental in assisting in the development of the United Nations Accounting Standards (UNSAS) and new formats of the financial statements;
  • Made proposals on changes in the content and presentation of the results, of actuarial valuations of the Pension Fund, and the presentation of the Funds financial statements;
  • Reaffirmed co-operation with the Joint Inspection Unit through meetings, exchange of long-form audit reports, and providing information on plans of Panel members to carry out examinations of the economic and efficiency in the United Nations organizations they audit;
  • Provided advice on how oversight functions could be improved;
  • Put forward to the Secretary-General proposals to revise the audit opinion and the additional terms of reference governing external audit to bring them in line with revised standards set by the International Federation of Accountants (IFAC). The General Assembly approved of an amendment to the additional terms of reference governing the audit of the United Nations;
  • Put forward to the General Assembly proposals for strengthening the implementation of external auditors’ recommendations. The General Assembly accepted the proposal;
  • Reaffirmed to the Secretary-General the Panel’s position on the ‘single audit’ principle;
  • Agreed to conduct audits in conformity with the International Standards on Auditing issued by the International Auditing and Assurance Standards Board of the International Federation of Accountants (IFAC);
  • Issued its first report on the lessons-learned from the audit of tsunami-relief activities;
  • Reaffirmed the Panel’s role as governance partners and its availability to contribute to the United Nations reform initiatives;
  • Provided input in the proposed terms of reference of the Independent Audit Advisory Committee (IAAC) especially with regard to the preservation of the independence of the external audit function;
  • Advocated that the United Nations moves towards the adoption of internationally recognised accounting standards as a replacement for the United Nations system Accounting Standards (UNSAS). The General Assembly has since approved of the adoption of International Public Sector Accounting Standards (IPSAS);
  • Reiterated its position that Supreme Audit Institutions are better placed to render external audit services to public funded organisations such as the United Nations system. Accordingly, the Panel advocated recognition of this at the highest level, this is, in the United Nations Charter; and
  • Emphasised that certain conditions attached to donor contributions are inconsistent with the statutory goals and principles of the United Nations Charter.