East African Community
PRESS RELEASE
INAUGURAL MEETING OF EAC AUDIT AND RISK COMMITTEE HELD IN KIGALI
East African Community Secretariat, Arusha, 12 November 2012:
A five-day inaugural meeting of the EAC Audit and Risk Committee
concluded in Kigali Friday 9 November 2012. The Council of Ministers at
its 25th Meeting held on 30 August 2012 in Bujumbura, Burundi, appointed members of the East African Community
Audit and Risk Committee comprising seasoned technocrats from all the five Partner States.
Addressing
members of the Committee, the Deputy Secretary General (DSG) Finance
and Administration, Mr. Jean Claude Nsengiyumva noted that the
establishment
of the Audit and Risk Committee was a great milestone in the EAC
Governance Process. He observed that the Committee was one of the
cornerstones of good governance and will enhance accountability and help
in the realization of value for money in the operations
of the Community’s project and programmes.
Mr.
Nsengiyumva emphasized that the Committee will help to oversee the
audit function of the Community and pledged full support to the
Committee
in discharge of its functions.
The
Kigali meeting, among others, considered and approved the Internal
Audit Plans for the financial year 2012-2013 for the EAC Secretariat,
Inter
University Council for East Africa and Lake Victoria Basin Commission.
The
Committee also received the Audit Commission report on the Audited
Financial Statements of the East African Community for the year ended 30
June
2011 and the Management Letter, plus other external auditors reports.
The Committee also formulated its mission and vision as follows: Vision of EAC Audit and Risk Committee is “to be an effective oversight body
of Council in promoting accountability in the Community”. The mission is “to
enhance the Council’s oversight function in promoting and ensuring
financial discipline, effective risk management, controls and governance
processes as pillars of integrity
and development in the Community”.
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