This system included a reinforced internal audit capability .

Internal Audit

Internal Audit

Internal audit

Banknotes ( Directorate )

Internal Audit ( Directorate )

( Directorate )

Internal Auditors Committee

Directorate Internal Audit Michèle Caparello Directorate General Information Systems Jim Etherington Deputy Hans Gert Penzel

Relationship with the ECB Audit Committee To provide assistance to the Governing Council , the Audit Committee receives the audit reports of D IA and of the Internal Auditors Committee ( IAC ) .

The Director Internal Audit , within the framework of this Charter , defines the operational principles for the performance of D IA in an Internal Audit Manual .

Responsibilities D IA performs audit engagements as specified in the ECB audit plan as approved by the Executive Board .

D IA a ) prepares the ECB audit plan using a risk based methodology for approval by the Executive Board

As endorsed by the Executive Board , the internal audit adheres to the International Standards for the Professional Practice of Internal Auditing established by the Institute of Internal Auditors .

Article 7 Information on the closing of the investigation with no further action taken If , following an internal investigation , no case can be made out against an ECB employee or participant in a decision making body against whom allegations have been made , the internal investigation shall be closed , with no further action taken , by decision of the Director of the Office , who shall inform the concerned ECB employee or participant in a decision making body thereof in writing .

(d) Enhancement of the external audit functions of the Fund and expansion of the Fund's internal audit coverage

The role and the obligations of Internal Audit are summarised in the ECB Audit Charter approved by the ECB Executive Board

The Internal Auditors Committee , an ESCB committee established under a mandate from the Governing Council , is composed of the heads of internal audit at the ECB and the NCBs .

Furthermore , D IA reviews the Eurosystem 's tasks and activities ( joint components ) in accordance with the ESCB Audit Policy .

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Application of IIA Standards and Code of Ethics D IA abides by the Institute of Internal Auditors ( IIA ) International Standards for the Professional Practice of Internal Auditing , including the IIA 's Code of Ethics . 3 .

The Internal Auditors Committee is responsible for audit missions under a mandate from the Governing Council .

D IA may intervene at the instruction of the Executive Board or on its own initiative .

The internal audit component of the programme will aim to support the Bank of Russia 's risk based internal audit function , through training by and consultations with the experts of the Eurosystem .

The Directorate Internal Audit functions under the direct responsibility of the Executive Board .

Moreover , the Audit Committee reports to the Governing Council and gives an opinion on the performance of the ECB 's internal audit function and on the activities of the IAC in compliance with the Eurosystem 's audit policy .

All activities , operations and processes of the ECB may be subject to internal auditing .

3 Furthermore , the Internal Auditors Committee is responsible for audit missions under a mandate from the Governing Council .

D IA immediately informs the Executive Board of any attempt to hinder it in the performance of its duties .

(c) A system of accounting and auditing standards and related oversight

The mandate of the Directorate Internal Audit is defined in the ECB Audit Charter approved by the Executive Board ( last amended 31 July 2007 ) ( pdf 23.9 kB , en ) .

The Directorate Internal Audit provides independent and objective assurance and consulting services designed to improve the ECB 's operations .

Moreover , the Directorate Internal Audit , which reports directly to the President of the ECB , continuously performs audit missions under a mandate from the Executive Board .

D IA performs its tasks with proficiency and due professional care .

ongoing ( read only ) access to information systems and data .

The ESCB audit policy was established by the Governing Council in order to ensure audit coverage for joint projects and joint operational systems at the ESCB level , which is carried out by the Internal Auditors Committee .

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In this respect , D IA may also require permanent ( read only ) access to incident and change databases .

58 258. Report of the Office of Internal Oversight Services on the audit of the establishment and management of mission subsistence allowance rates

In the Audit Charter , the Executive Board of the European Central Bank defines the purpose , authority and responsibility of the ECB 's Directorate Internal Audit ( D IA ) and specifies D IA 's contribution to the corporate governance of the ECB .

As to the IGS, it will cease to exist in May 2000 following the incorporation of its activities into the Internal Audit Service.

60 239. Implementation of the recommendations of the Office of Internal Oversight Services on its management audit of the regional commissions

Having considered the report of the Office of Internal Oversight Services on the audit of the establishment and management of mission subsistence allowance rates, See A 56 648.

The Directorate Internal Audit has been established as an independent appraisal function with the role of examining and evaluating the activities of the ECB .

For this purpose , the Director of Internal Audit forwarded a programme of the relevant activities and kept the AFC regularly and comprehensively informed of these activities .