HLCM aims to develop a consolidated and trust based relationship with Member States on the level and quality of controls in place in the organizations to allow for rationalized oversight, more focus on key risks and better internal resource allocation.
The underlying challenge is to derive greater value from the UN audit and oversight architecture, by assessing its increasing costs and focusing, in partnership with oversight entities, on strengthening accountability (both corporate and individual) and managing and mitigating risks.
Most UN system organizations have or are in the process of strengthening their internal control and risk management processes. In this regard, HLCM recognizes the strategic value of a collective engagement to devise effective approaches for the identification of events that could affect the organizations, and in managing risks within the individual organization’s risk appetite, so as to provide reasonable assurance regarding achievement of the organizations’ objectives, while ensuring effectiveness and efficiency of operations, reliability of financial and performance reporting, and compliance with rules and regulations.
An important component of this undertaking is represented by the further integration of risk management into the programme planning processes and within the performance dialogue with legislative bodies and Member States.