ECCB 2023-2024 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2023 - 2024

Regulations; 6. The ECCB’s Guide – Protocol, Diplomacy and Etiquette; 7. Energy Management Policy; and 8. Financial Regulation. Human Resource Management The Bank is governed by the labour codes and laws of each of its participating member countries. The oversight of the Bank’s human resources is delegated to the Human Resource Department. The management of human resources is informed by polices and guidelines which conform to international conventions and standards pertaining to human rights, equal employment opportunity and working conditions. The Internal Audit Department helps to maintain the integrity of the human resource management process by ensuring that the Bank complies with stipulated policies and procedures. R elationship with S takeholders Stakeholder Involvement The Bank sustained its engagements with stakeholders as the region continued its emergence from the COVID-19 pandemic. Meetings were held virtually and in person during the year under review. Networking and consultative meetings were convened as scheduled. Based on the terms of reference, networking and consultative meetings are held biannually, while others are held on an annual basis. The meetings allowed for continued productive stakeholder engagement, welcoming a cross section of participants from the various institutions. The meetings further presented the opportunity for stakeholders to share their work programme and activities post COVID-19, while allowing for a restoration of face-to face

The function of the external auditor is to conduct an annual audit of the Bank to provide the assurance that the financial statements fairly represent the Bank’s financial position. The external auditor further reports to the Board Audit and Risk Committee on its findings and recommendations. I ntegrity and F inancial R eporting Disclosure and Transparency In keeping with international best practices, and in accordance with statutory requirements, the Bank publishes its statement of assets and liabilities on a monthly basis and the audited annual financial statements by the end of June each year. Compliance with International Financial Reporting (IFR) Standards The Bank continued to remain IFRS 9 compliant and pursued and implemented strategies/ processes to stay abreast with iterations in these Standards. C ode of C onduct The Bank’s overriding Code of Conduct is encapsulated in its value statement as follows: “The Bank values a results-focused approach in delivering timely, relevant and high quality output for the benefit of the people of the ECCU.” The behaviour of management and staff is governed by various policy documents including: 1. The Eastern Caribbean Central Bank Corporate Governance Charter;

2. Conflict of Interest Policy; 3. Media Relations Policy;

4. Information Systems and Security Policy; 5. Eastern Caribbean Central Bank Staff

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