World Bank, EBRD, and EIB Strengthen Cooperation in Internal Audit Oversight

World Bank, EBRD, and EIB Strengthen Cooperation in Internal Audit Oversight

(IN BRIEF) The World Bank Group Internal Audit (GIA), European Bank for Reconstruction and Development Department of Internal Audit (EBRD-IA), and European Investment Bank Internal Audit Department (EIB-IA) have signed memoranda of understanding to enhance collaboration, particularly in information exchange, joint assurance activities, and mutual internal audit interests. The agreements, inked by GIA Vice President and Auditor General Anke D’Angelo, EBRD Chief Internal Auditor Fotoulla Charalambous, and EIB Director of Internal Audit Séverine Beroard, solidify the commitment to best practices and methodologies, with a focus on delivering assurance, especially in fragile and conflict-affected areas. The newly established Tri-Partite Working Group on Assurance and Oversight will facilitate regular exchanges and intelligence sharing among the internal audit functions of the three institutions. Topics discussed during their inaugural meeting included global risk assessment, operations in Ukraine, and lessons learned from country assurance programs. The working group aims to bolster the partnership through coordinated actions, with its next meeting scheduled for early 2024, hosted by GIA.

(PRESS RELEASE) LUXEMBOURG, 5-Oct-2023 — /EuropaWire/ — On Friday 22 September 2023, the World Bank Group Internal Audit (GIA), the European Bank for Reconstruction and Development Department of Internal Audit (EBRD-IA) and the European Investment Bank Internal Audit Department (EIB-IA) signed memoranda of understanding to strengthen cooperation, particularly around information exchange, joint assurance activities and internal audit matters of mutual interest. GIA Vice President and Auditor General Anke D’Angelo, EBRD Chief Internal Auditor Fotoulla Charalambous, and EIB Director of Internal Audit Séverine Beroard signed the agreements at EBRD headquarters in London. GIA and EIB-IA previously signed a memorandum of understanding in March 2023.

Immediately following the signatures, the three chief audit executives and their deputies held the first meeting of the Tri-Partite Working Group on Assurance and Oversight.

The goals of the working group include:

• Providing a forum for regular exchange between the internal audit functions of the World Bank, EBRD and EIB on best practices, methodologies and approaches, with a focus on delivering assurance in fragile and conflict settings.
• Sharing audit and risk-related intelligence and information.
• Enhancing collaboration, including through joint activities.

Topics for discussion during the first meeting included: (a) the global risk landscape; (b) each institution’s operations in Ukraine as well as assurance provided or planned by the respective internal audit functions; and (c) experiences and lessons learned related to each unit’s country assurance programme.

Working group members agreed to a set of actions that aim to further strengthen the partnership. The second meeting of the working group will take place in early 2024 and will be hosted by GIA.

Media Contact:

Press Office
press@eib.org
+352 4379 – 21000

SOURCE: European Investment Bank