B.08/18: Commencement of annual reporting and the external auditing process

The Board, having reviewed document GCF/B.08/27 Commencement of Annual Reporting and the External Auditing Process and based on the recommendations of the Ethics and Audit Committee:

  1. Approves the adoption of the International Financial Reporting Standards as the accounting standard for the Fund;
  2. Approves the terms of reference of the External Auditor as set out in Annex XXVII; and
  3. Authorizes the Secretariat to commence work on the annual report for 2014, which will be presented at the second Board meeting held in 2015.