Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Organisational Effectiveness and Development

management apparatus and evaluate whether it effectively meets the needs of the Bank. 3. Assess whether the Bank’s data was adequately protected from unauthorised access, misuse and breach. 4. Determine the adequacy and effectiveness of data quality and metadata management. Social Media Audit Social media management and execution involve strategically creating, publishing, and engagingwith content across social media platforms to achieve specific goals, while the execution phase focuses on implementing this strategy through content creation, scheduling, and community engagement. The purpose of the audit was to evaluate the effectiveness of the Bank’s social media presence, governance structure, and the elements in place to operate on social media. The specific objectives were as follows: 1. Assess the effectiveness of Social Media Governance to guide the operations and management of Social Media; 2. Evaluate the management of the Bank’s social media platforms; 3. Evaluate the performance metrics against organisational goals and international practices; and 4. Assess the adequacy of the security measures, internet connectivity and user access controls for the safeguarding of the Bank’s Social Media Platforms. Bank-Wide Contract Management Process The purpose of the Bank-Wide Contract

Management Process Audit was to evaluate the operating effectiveness of the contract management process. The specific objectives were as follows: ; To evaluate the efficacy of the Contract Management Lifecycle process; ; To assess the compliance and sufficiency of the contract performance evaluation process; and ; To determine the effectiveness of the vendor management process in relation to established best practices. Capital Projects Management The objective of the Capital Project Management Audit was to provide assurance over the adequacy and effectiveness of controls over the capital project management processes and to provide guidance on where improvement was needed. The specific objectives were as follows: ; Assess the adequacy of capital project administration. ; Examine whether there were sound processes in place for the execution of projects including monitoring and managing projects’ progress during execution. ; Evaluate the processes and controls in place to assess capital project performance, and with the use of capital project indices, determine how the Bank was performing. Agency Offices: Antigua and Barbuda, Grenada and Saint Lucia The purpose of the Agency Offices audits was to evaluate the adequacy of the system of internal controls and the risk management practices at the Agency Offices in Antigua and Barbuda, Grenada

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