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