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GA 2016

Key audit findings presented

7 Nov 2016

The Presidential Executive (Board), on behalf of IRU members, commissioned an independent external audit into allegations that were made against IRU and its management earlier this year.

The audit was conducted by Ernst & Young and overseen by the Presidential Executive, independently of IRU management. The audit investigated the specific allegations as well as IRU’s general governance structure, compliance and ethical standards.

The auditors evaluated more than 2,800 documents dating back to 1995, including documents provided by the person who made the allegations, and interviewed relevant parties, including the person who made the allegations.

Ernst & Young presented the results of their audit to IRU members at the General Assembly on 4 November.

In summary, the auditors have:

  • - Found no evidence for any of the allegations made in April 2016, dating back to 1995, against current IRU management. No money has gone missing, all funds are accounted for and Swiss tax laws have been fully complied with.  
  • - Found no issues with IRU’s general governance structure, compliance and ethical standards. They noted significant improvements to increase transparency and to enhance internal control systems and risk management since 2013.

There was strong consensus among IRU members that IRU and its management team should continue the positive efforts that have been achieved since 2013 to improve IRU’s governance and transparency.

Members acknowledged the professional and comprehensive work done by the auditors as well as the exceptional efforts of the Presidential Executive in leading this process.

Moreover, the current IRU management team continues to have the full support of the Presidential Executive and IRU members.