For the first time, the Republic of Moldova will be represented in the Audit Committee of the International Organization of Francophonie (IOF). The representative appointed by the Court of Accounts of the Republic of Moldova (CoARM) was appointed as member of this governing body of the IOF.
The decision regarding the renewed composition of the Committee was adopted on March 21, during the meeting of the Permanent Council of the Francophonie. The acceptance of the candidature from the CoARM was determined, including, by the positive results of the international and national evaluations of the Court of Accounts in recent years, the advanced competencies in the field of audit and governance, as well as by the vast international experience of the supreme audit institution from the Republic of Moldova.
This position, a premiere for the country, will actually be a novelty also for the Court of Accounts. Previously, the institution was not represented on an audit platform within an international organization with direct evaluation and oversight responsibilities.
The audit committee is made up of 8 members, based on a balanced regional representation: 4 representatives of IOF member states and governments, 2 members appointed by the Permanent Council following the recommendation of the Francophone Union of the internal audit, as well as the President of the Administrative and Financial Committee and the President of the Cooperation and Programming Committee of the IOF.
Thus, for the next period of activity, the Republic of Moldova will be the only country that ensures European regional representation, the other 3 members represent Canada, the Republic of Cameroon and the Federal Republic of Nigeria.
We mention that the Audit Committee is a governing body that oversees the independence and effectiveness of the IOF's internal audit, by ensuring the proper functioning of the internal audit function, approving annual and multi-annual audit plans, coordinating internal and external audit activity, monitoring the implementation of the annual internal audit plan, evaluating the quality of audit reports and the relevance of recommendations, etc.