 RESTRICTED  
  
WT/BFA/W/495  
 
10 September 2019  
(19-5765) Page: 1/1 
Committee on Budget, Finance and Administration    
 
 
RE-ENDORSEMENT OF RECOM MENDATION TO THE GEN ERAL COUNCIL RELATIN G TO THE 
2017 FINANCIAL STATE MENTS  
1  BACKGROUND  
1.1.  During its meeting that took place on 26 June 2018, t he Committee on Budget, Finance and 
Administration (CBFA) considered the 2017 Financial Performance Report (WT/BFA/W/450) and The 
Report of the Independent External Auditor on the Audit of the Financial Statements of the World 
Trade Organization (WTO) for the Year ended 31 December 2017 (WT/BFA/W/454).  
1.2.  The Committee had agreed to  propose the following recommendation to the General Council:  
1.3.  The Committee recommends that the General Council approve the transfers between 
budgetary sections as outlined in parag raphs 2.29 and 2.34 of document WT/BFA/W/450. 
The Committee further recommends that the General Council approve the WTO Audited 
Financial Statements for the year ended 31 December 2017 . 
2  DEFERRAL OF THE RECO MMENDATION  
2.1.  The recommendation in par agraph  1.3 above was included in the CBFA Report to the General 
Council (WT/BFA/173). This document , together with a Report from an earlier CBFA meeting 
(WT/BFA/172)  was included on the agenda of the General Council meeting that took place on 26 and 
27 July 2018. However, due to concerns that had been raised by some delegations, the General 
Council agreed to amend the agenda  in relation to this item (agenda item 9) and only consider ed 
paragraphs 1.1 to 1.12 of WT/BFA/172, together with the associated document, being 
WT/BFA/W/443.  
2.2.  Over the course of several months, in -depth discussions were held by the WTO Secretariat  and 
the delegation that had expressed dissatisfaction with  a table that was included in the 2017 WTO 
Financial Performance Report (WT/BFA/W/450) . The concerns have now been addressed through 
the establishment of a process for informing Members of voluntary contributions .  
2.3.  In order to comply with Financial Regulation s 211 and 362, the recommendation relating to the 
transfers between budget sections and the 2017 WTO Audited Financial Statements has to be 
submitted to the General Council, for its approval. The recommendation is repeated below:  
2.4.  The Committee recommends that th e General Council approve the transfers  between budgetary 
sections as outlined in paragraphs 2.29 and 2.34 of document WT/BFA/W/450. The Committee 
further recommends that the General Council approve the WTO Audited Financial Statements for the 
year ended 3 1 December 2017.   
 
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1 Financial Regulation 21 : At the end of the financial period the Director -General shall report on the 
transfers of credits between sections of the expenditure budget , to the General Council , for approval . 
2 Financial Regulation 36 : The report of the External Auditor shall be transmitted to the Committee 
together with the audited financial statements in a timely manner, allowing sufficient time for the Committee to 
examine the report and the audited financial statements in advance of the regular meeting of the General 
Council in July. The Committee on Budget, Finance and Administration shall examine the financial statements 
and the audit report with a view to making a recommendation to the General Council to approve the financial 
statements.  
 