10 The Independent Expert Oversight Advisory Committee (IEOAC) was established by the Executive Board in May 2009, under Resolution EB125.R1, which also approved the terms of reference of the IEOAC, its purpose, functions, composition, terms of office and administrative arrangements.
20 The IEOAC advises the Programme Budget and Administration Committee (PBAC), and, through it, the Executive Board, in fulfilling their oversight advisory responsibility and, upon request, advises the Director-General on issues within its mandate.
30 The IEOAC is composed of five members serving a maximum four-year term. The Director-General proposes to the Executive Board candidates for membership who are then appointed by the Executive Board.
40 The IEOAC meets at least twice per year to fulfill its functions, as set out in the terms of reference as follows:
- to review the financial statements of WHO and significant financial reporting policy issues, including advice on the operational implications of the issues and trends apparent;
- to advise on the adequacy of the Organization’s internal controls and risk management systems, and to review management’s risk assessment in the Organization and the comprehensiveness of its ongoing risk management processes;
- to exchange information with, and review the effectiveness of, the Organization’s internal and external audit functions, as well as to monitor the timely, effective and appropriate implementation of all audit findings and recommendations;
- to advise on the appropriateness and effectiveness of accounting policies and disclosure practices and to assess changes and risks in those policies;
- to provide, upon request, advice to the Director-General on the matters under points above;
- to prepare an annual report on its activities, conclusions, recommendations and, where necessary, interim reports, for submission to the PBAC by the Chairman of the IEOAC.
