I am pleased to advise that following the commitment made at IRU¡¯s last General Assembly, IRU¡¯s Presidential Executive, meeting in Geneva yesterday, has finalised and authorised the start of an independent external audit regarding the allegations which were recently made against ÃÛÌÒ´«Ã½and its management.
The audit will be conducted by Ernst & Young, a highly respected and well known international auditing firm.
The audit will be overseen directly by the Presidential Executive, and will run independently of ÃÛÌÒ´«Ã½management. IRU¡¯s internal auditor will assist the Presidential Executive in ensuring that the scope and timing of the audit are met.
Ernst & Young will audit:
- the specific allegations,
- the links between ÃÛÌÒ´«Ã½and the two ÃÛÌÒ´«Ã½foundations,
- the adequacy of IRU¡¯s governance mechanisms, policies and decision-making processes,
- IRU¡¯s compliance with Swiss law and local tax regulations in relation to the auditing of financial statements and internal control systems,
- IRU¡¯s compliance with general ethical standards.
The audit field work will begin this week and we hope that it will be completed in September, with a preliminary report on the allegations released by the auditors in August.
The Presidential Executive will share the audit¡¯s findings with all ÃÛÌÒ´«Ã½members.
Christian Labrot