On Friday 22 September 2023, the World Bank Group Internal Audit (GIA), the European Bank for Reconstruction and Development Department of Internal Audit (EBRD-IA) and the European Investment Bank Internal Audit Department (EIB-IA) signed memoranda of understanding to strengthen cooperation, particularly around information exchange, joint assurance activities and internal audit matters of mutual interest. GIA Vice President and Auditor General Anke D’Angelo, EBRD Chief Internal Auditor Fotoulla Charalambous, and EIB Director of Internal Audit Séverine Beroard signed the agreements at EBRD headquarters in London. GIA and EIB-IA previously signed a memorandum of understanding in March 2023. 

Immediately following the signatures, the three chief audit executives and their deputies held the first meeting of the Tri-Partite Working Group on Assurance and Oversight. The goals of the working group include:

  • Providing a forum for regular exchange between the internal audit functions of the World Bank, EBRD and EIB on best practices, methodologies and approaches, with a focus on delivering assurance in fragile and conflict settings.
  • Sharing audit and risk-related intelligence and information.
  • Enhancing collaboration, including through joint activities.

Topics for discussion during the first meeting included: (a) the global risk landscape; (b) each institution’s operations in Ukraine as well as assurance provided or planned by the respective internal audit functions; and (c) experiences and lessons learned related to each unit’s country assurance programme.

Working group members agreed to a set of actions that aim to further strengthen the partnership. The second meeting of the working group will take place in early 2024 and will be hosted by GIA.