The audit focused on the IBE’s accounts for the 2010 financial period and on its administrative and financial management. The External Auditor sought to ascertain whether the expenses shown in the financial statements for the period ended 31 December 2010 were consistent with the objectives approved by the governing body, whether revenue and expenses were classified in accordance with the Financial Regulations and whether the financial statements presented fairly, in all material respects, the financial position as at 31 December 2010. The audit also covered follow- up action on the recommendations of previous audits. A test examination of the supporting documents was conducted.
