Current account balance (billions of dollars) 21.8 e

The term includes checking, saving and time deposit accounts.

Thus far, the review of current accounts has been completed, while the old outstanding accounts have only partially been completed, owing to the staff shortage.

Current and deposit accounts as at 31 December 2004

The United Nations Office at Geneva Treasury regularly reviews current accounts and those which are considered redundant or dormant are recommended for closure.

They have also helped them to cope more easily with chronic current account payments deficits.

The remaining items are being validated progressively by BOA as a lead in to their audit of UNDP financial statements for the current biennium.

In respect of both Headquarters and Geneva, the Board recommended that there should be a regular review of the number of current and investment accounts.

Large current account imbalances continue to characterize the global economy, and a lower dollar would contribute to reducing the United States deficit.

Some of the increase in net transfers reflected strong growth in export revenues that had led to current account surpluses in some countries.

The following table shows the breakdown between current and deposit accounts as at 31 December for the years 2000 to 2004.

One should not criticize the ECB for propping up the GIPS current accounts during the global crisis.

2. Under the current arrangements, set out in regulation 12.2 of the Financial Regulations of the United Nations, the members of the Board of Auditors shall be elected for a three year term of office.

Such a cap would not eliminate current account deficits, but it would reduce deficits to the flow of private capital willing to finance them.

Further details on ongoing follow up to the audit recommendations for 2003 would be reported at the 35th meeting of the Standing Committee in March 2006.

The United States current account deficit had increased significantly in recent years while emerging Asian economies continued to run large surpluses.

Also, developing country Governments have increasingly become persuaded of the importance of fiscal and monetary discipline but unanimity about a general formula does not go much beyond sustainable macroeconomic balance, that is, sustainable current account and budget balances.

233. With regard to the accounts section, expenditure will continue to be incurred principally in maintaining the processing of current year transactions and reconciliation of operating fund accounts with Governments.

Audit findings and recommendations of the Board of Auditors

Accounts

There are large current account surpluses among emerging markets (a big change from 1997, when most emerging markets had deficits).

Notwithstanding the efforts under way and acknowledged by the auditors, this will be taken up on a broader scale in the context of deliberations on national execution policy, procedures and processes.

IAS 13 Presentation of Current Assets and Current Liabilities

Trials in Progress

Ongoing discussions

On going projects

64. UNEP will continue the required evaluation as provided by the Governing Council and will increase its efforts to evaluate ongoing projects as recommended by the Board of Auditors.

(b) The report of the Board of Auditors with respect to the above accounts and

These statements have been examined and include the audit opinion of the Board of Auditors.

Open Accounts

All accounts

Special accounts.

b Outposted to the Department of Economic and Social Affairs for financial matters related to technical cooperation.

Monitoring of accounts

Report by the Director General

Health accounts

Principal accounts

Special Accounts

The travel requirements are detailed below

Joint Appeals Board

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