Regulation C/REG.5/06/12 on the Payment of the Professional Fees to KPMG/Ghana Firm, as External Auditors of Community Institutions

Jurisdiction
African Regional Bodies · Economic Community of West African States (ECOWAS)
Date
12 June 2012
Language
English
Type
Legislation
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Economic Community of West African States

Regulation C/REG.5/06/12 on the Payment of the Professional Fees to KPMG/Ghana Firm, as External Auditors of Community Institutions

The Council of Ministers;MINDFUL of Articles 10, 11 and 12 of the ECOWAS Treaty as amended establishing the Council of Ministers and defining its functions,MINDFUL of Article 75 of the said Treaty relating to the appointment of the External Auditor,RECALLING that the tenure of the former External Auditors of the Community Institutions, Deloitte and Touche, Cote d’Ivoire expired in 2010;CONSIDERING that by virtue of Article 75 of the Treaty referred to above, the External Auditors Auditor shall be appointed for a period of two years renewable once;MINDFUL of Decision A/DEC.15/01/06 establishing the ECOWAS Audit Committee and adopting its mandate and terms of reference;MINDFUL of the Audit Committee’s evaluation report on Accounting Firms dated 25 November 2011 recommending KPMG/Ghana as Auditor of the Community Institutions after the completion of the required due process for recruitment;RECALLING that the Council of Ministers at its 67th Session which took place in Abuja 19-21 December 2011, recommended the appointment of KPMG Firm, Ghana to the Authority of Heads of State and Government;MINDFUL of Decision A/DEC.1/02/12 adopted by the Authority of Heads of State and Government appointing KPMG, Ghana as the new External Auditors of Community Institutions;CONSIDERING the need to make available for payment, the professional fees of the New External Auditors of Community Institutions;HAVING NOTED that the Commission has insufficient funds budgeted to offset the said professional fees.DESIROUS of extending the necessary approval for the payment of the professional fees of the External Auditors of Community Institutions;ON THE RECOMMENDATION of the 11th Administration and Finance Committee meeting held in Abidjan on 15 and 16 May 2012;ENACTS

Article 1

1.Approval is hereby granted for the payment of the sum of One hundred and forty five thousand Units of Accounts (UA145,000) as professional fees for the External Auditors of the Community
2.The President of the Commission is authorized to adopt the necessary administrative and Financial measures to ensure appropriation of the outstanding balance of Forty five thousand Units of Accounts (UA45,000) to supplement the 2012 budgeted funds earmarked for the professional fees of the External Auditor.

Article 3

The ECOWAS Commission shall publish this Regulation in the Official Journal of the Community within thirty (30) days upon its signature by the Chairman of Council. It shall also be published by each Member State in its Official Gazette within thirty (30) days following notification by the Commission.[Please note: numbering as in original.]
Done at Abidjan this 12th day of June 2012H.E. Daniel Kablan DuncanChairman for the Council
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