Considerations on COM(2022)420 - EU position in the International Grains Council on amending the Rules of Procedure under the Grains Trade Convention, 1995 as regards external auditor’s contract period

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dossier COM(2022)420 - EU position in the International Grains Council on amending the Rules of Procedure under the Grains Trade Convention, 1995 ...
document COM(2022)420 EN
date October 13, 2022
 
table>(1)The Grains Trade Convention, 1995 (‘the Convention’), was concluded by the Union by means of Council Decision 96/88/EC (1) and entered into force on 1 July 1995. The Convention was initially concluded for a period of three years and has since been regularly extended.
(2)The Rules of Procedure under the Convention (‘the Rules of Procedure’) were approved by the International Grains Council on 6 July 1995.

(3)Rule 31, point (a), of the Rules of Procedure lays down that an independent external auditor is to be designated for three years, which may be renewed once, for a maximum of two years.

(4)On 14 April 2022, the Secretariat of the International Grains Council proposed to amend Rule 31, point (a), with a view to increasing the period of designation of the independent external auditor from three to five years, which may be renewed once, for a maximum of three years. The objective of the amendment is to offer a longer contract period for potential auditors, who would in return offer more competitive prices for their services.

(5)It is appropriate to establish the position to be adopted on the Union’s behalf in the International Grains Council with respect to the amendment of the Rules of Procedure concerning the contract period of the external auditor. The proposed amendment aims at improving the financial sustainability of the International Grains Council and is therefore in the interest of the Union,