Artikel XII

A. The budget of the Agency shall be financed by:
1. mandatory contributions of its Members, which are based on the scale of assessments of the United Nations, as determined by the Assembly;
2. voluntary contributions; and
3. other possible sources in accordance with the financial rules to be adopted by the Assembly by consensus, as laid down in Article IX paragraph G of this Statute. The financial rules and the budget shall secure a solid financial basis of the Agency and shall ensure the effective and efficient implementation of the Agency’s activities, as defined by the work programme. Mandatory contributions will finance core activities and administrative costs.
B. The draft budget of the Agency shall be prepared by the Secretariat and submitted to the Council for examination. The Council shall either forward it to the Assembly with a recommendation for approval or return it to the Secretariat for review and re-submission.
C. The Assembly shall appoint an external auditor who shall hold office for a period of four years and who shall be eligible for re-election. The first auditor shall hold office for a period of two years. The auditor shall examine the accounts of the Agency and shall make such observations and recommendations as deemed necessary with respect to the efficiency of the management and the internal financial controls.