Auditing the authority’s performance
AUDITING THE AUTHORITY’S PERFORMANCE
A- The Board of Directors shall assign one or more external auditors of reputable international standing to conduct a full audit of the Authority’s performance at least every three years
and whenever deemed necessary at the discretion of the Minister or the Board of Directors.
Performance audit means conducting an objective, systematic formal review of the performance, programs and activities of the Authority for the purpose of preparing an independent assessment and determining the extent of accuracy and perfection of the Authority conduct . Such auditing shall comprise an economic audit, an efficiency audit, and a program audit in accordance with internationally recognized benchmarks and principles of audits performance.
B- The performance auditor shall submit to the Audit Committee a report of the outcome of his work and recommendations within a period to be set by the Board of Directors provided such period shall not exceed six months as from the date of his commencement of the audit task.
C- The Authority shall publish the performance reports by any of the means, as determined by the Board of Directors, in a way that makes perusal accessible to all.
Last Update: Sunday 14 February 2010