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Auditing the authority’s performance

ARTICLE (20)‎
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: Monday 28 April 2014