PROPOSED REVISED WIPO INDEPENDENT ADVISORY OVERSIGHT COMMITTEE OF REFERENCE Prepared by the WIPO Independent Advisory Oversight Committee July 31, 2015 PREAMBLE 1. In September 2005, the WIPO General Assembly approved the establishment of a WIPO Committee. In September 2010, the WIPO General Assembly approved a change to the title of the Committee to the Independent Advisory Oversight Committee (IAOC) and amended its composition and rotation procedures. FUNCTIONS AND RESPONSIBILITIES 2. The IAOC, a subsidiary body of the General Assembly and of the Program and Budget Committee, is an independent, expert advisory and external oversight body established to provide assurance to Member States on the adequacy and effectiveness of internal controls and of internal and external oversight at WIPO. It aims to assist Member States in their role of oversight and in exercising their governance responsibilities with respect to the various operations of WIPO. Its mandate is as follows: Promoting internal control by: Systematically appraising management’s actions to maintain and operate adequate and effective internal controls; Contributing, through its scrutiny function, to maintaining the highest possible standards of financial management and addressing any irregularities; Reviewing the effectiveness of the Financial Regulations and Rules; (iv) Reviewing management’s assessment of and approach to risk; (v) Reviewing and advising on the fraud and corruption prevention policies and on the ethics function, including the code of ethics, financial disclosure, and whistle blower protection. (b) Providing assurance to the General Assembly by: (i) Reviewing and monitoring the effectiveness and operational independence of WIPO’s internal evaluation and investigation functions; (ii) Reviewing and providing advice on the proposed annual work plans of the Internal Oversight Division and of the Ethics Office; (iii) Exchanging information and with the external auditor, including his/her audit plan; (iv) Promoting effective coordination between the internal and external audit function and reviewing the collective coverage of various WIPO functions, including the Internal Oversight Division, the Office of the Ombudsperson, the Ethics Office and the Office of the Controller; (v) Confirming that oversight functions have been carried out to provide reasonable assurance to the General Assembly;
PROPOSED REVISED WIPO INDEPENDENT ADVISORY OVERSIGHT COMMITTEE OF REFERENCE Prepared by the WIPO Independent Advisory Oversight Committee July 31, 2015 PREAMBLE 1. In September 2005, the WIPO General Assembly approved the establishment of a WIPO Committee. In September 2010, the WIPO General Assembly approved a change to the title of the Committee to the Independent Advisory Oversight Committee (IAOC) and amended its composition and rotation procedures. FUNCTIONS AND RESPONSIBILITIES 2. The IAOC, a subsidiary body of the General Assembly and of the Program and Budget Committee, is an independent, expert advisory and external oversight body established to provide assurance to Member States on the adequacy and effectiveness of internal controls and of internal and external oversight at WIPO. It aims to assist Member States in their role of oversight and in exercising their governance responsibilities with respect to the various operations of WIPO. Its mandate is as follows: Promoting internal control by: Systematically appraising management’s actions to maintain and operate adequate and effective internal controls; Contributing, through its scrutiny function, to maintaining the highest possible standards of financial management and addressing any irregularities; Reviewing the effectiveness of the Financial Regulations and Rules; (iv) Reviewing management’s assessment of and approach to risk; (v) Reviewing and advising on the fraud and corruption prevention policies and on the ethics function, including the code of ethics, financial disclosure, and whistle blower protection. (b) Providing assurance to the General Assembly by: (i) Reviewing and monitoring the effectiveness and operational independence of WIPO’s internal evaluation and investigation functions; (ii) Reviewing and providing advice on the proposed annual work plans of the Internal Oversight Division and of the Ethics Office; (iii) Exchanging information and with the external auditor, including his/her audit plan; (iv) Promoting effective coordination between the internal and external audit function and reviewing the collective coverage of various WIPO functions, including the Internal Oversight Division, the Office of the Ombudsperson, the Ethics Office and the Office of the Controller; (v) Confirming that oversight functions have been carried out to provide reasonable assurance to the General Assembly;
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