Quarter’s Engagements                                                             2


Annex: List of Engagements in the FY17 Q1 Activity Report                         3




              The Internal Audit Vice Presidency (IAD) is an independent,
              objective assurance and consulting activity that helps to improve
              WBG operations. It assists the institution in accomplishing its
              objectives by evaluating the effectiveness of WBG governance,
              risk management, and control processes. Furthermore, IAD
              advises management in developing control solutions, and
              monitors the implementation of management’s corrective actions.

              IAD’s work is carried out in accordance with the Institute of
              Internal Auditors (IIA) International Professional Practices
              Framework.

              IAD’s Quarterly Activity Report summarizes IAD’s engagement
              results for the quarter.




                         IADVP FY17 FIRST QUARTER ACTIVITY REPORT
                                                                                      1
Audit of the World Bank Group’s Pension Plan Administration
The objective of the audit of the World Bank Group’s Pension Plan Administration was to assess
the governance, risk management and internal controls related to the day-to-day administration of
the Pension Plan.

The audit noted that the controls over WBG’s Pension Plan Administration are well designed and
operating effectively. The Pension Benefits Administration Committee and Pension Finance
Committee exercise adequate oversight and the PeopleSoft system is leveraged for most
computations and participant scenarios.




                          IADVP FY17 FIRST QUARTER ACTIVITY REPORT
                                                                                            2
Engagement                                                        Report No.

Audit of the World Bank Group’s Pension Plan Administration       WBG FY17-01




                       IADVP FY17 FIRST QUARTER ACTIVITY REPORT
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