BWBV0006825
Artikel 14
Verdrag tot oprichting van de Caribische Douaneorganisatie en inzake wederzijdse administratieve bijstand in douanezaken
1. The Audit Committee shall consist of no less than five members, including a Chairman, and shall establish its own rules of procedure, subject to approval by the Council. The Audit Committee should reflect a balanced representation of the Members. Each member of the Audit Committee will have one vote with the Chairman having a casting vote.
2. Members of the Audit Committee shall be elected for two-year terms and thereafter may be eligible for re-election.
3. The members of the Audit Committee shall elect a Chairman and a Vice Chairman from amongst their ranks.
4. A quorum of the Audit Committee shall be at least one half of the membership of the Committee.
5. Membership to the Audit Committee will be restricted to Members, subject to compliance with paragraph 1 of Article 16 of this Agreement.
6. The responsibilities of the Audit Committee include:
(i) providing independent, documented objective advice to the Executive Committee, the Council and the Secretary General through the systematic review and follow-up of all internal and external audit work undertaken in relation to the control environment, risk management practices, decision support, governance and compliance processes of the Organization;
(ii) advising and making recommendations to the Executive Committee, the Council and the Secretary General on any matter pertaining to the audit function, as the Committee considers necessary or appropriate;
(iii) assessing whether processes are in place to manage risks in accordance with organizational guidelines, work plans and the work program, and monitoring implementation and effectiveness of the processes;
(iv) monitoring the implementation of the work program on a cyclical basis;
(v) participating through the Chairman and/or the Vice Chairman in the selection of the internal and external auditors;
(vi) reviewing and approving the Annual Internal and External Audit Plans;
(vii) fostering the development and implementation of best practices in the internal audit and external audit function; and
(viii) reviewing and evaluating the performance of the internal and external auditors.
2. Members of the Audit Committee shall be elected for two-year terms and thereafter may be eligible for re-election.
3. The members of the Audit Committee shall elect a Chairman and a Vice Chairman from amongst their ranks.
4. A quorum of the Audit Committee shall be at least one half of the membership of the Committee.
5. Membership to the Audit Committee will be restricted to Members, subject to compliance with paragraph 1 of Article 16 of this Agreement.
6. The responsibilities of the Audit Committee include:
(i) providing independent, documented objective advice to the Executive Committee, the Council and the Secretary General through the systematic review and follow-up of all internal and external audit work undertaken in relation to the control environment, risk management practices, decision support, governance and compliance processes of the Organization;
(ii) advising and making recommendations to the Executive Committee, the Council and the Secretary General on any matter pertaining to the audit function, as the Committee considers necessary or appropriate;
(iii) assessing whether processes are in place to manage risks in accordance with organizational guidelines, work plans and the work program, and monitoring implementation and effectiveness of the processes;
(iv) monitoring the implementation of the work program on a cyclical basis;
(v) participating through the Chairman and/or the Vice Chairman in the selection of the internal and external auditors;
(vi) reviewing and approving the Annual Internal and External Audit Plans;
(vii) fostering the development and implementation of best practices in the internal audit and external audit function; and
(viii) reviewing and evaluating the performance of the internal and external auditors.
- Citeren als
- Art. 14
- Status
- Geldend recht
- Identificatie
- BWBV0006825
- Officiële bron
- wetten.overheid.nl