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Supervision of Activities- Combating Fraud and Corruption
The IDB maintains internal and external controls for its projects and activities.
Its financial statements are examined and approved by external auditors
selected by the Board of Governors. The Office of Institutional Integrity is
responsible for receiving allegations and conducting all investigations in the
IDB Group in the areas of fraud, corruption or unethical behavior involving Bank
staff or Bank-financed activities. The Office of the Auditor General provides
independent appraisals to management on the overall adequacy, effectiveness
and efficiency of the Bank’s oversight system, controls and resource utilization.
The IDB Independent Investigative Mechanism is available for affected populations
alleging that the Bank’s failure to follow its own policies or norms in
the design or implementation of proposed or ongoing operations has caused
or may cause material adverse effects. Following an initial review, the Board
of Executive Directors may decide to convene a panel of investigators, chosen
from a roster of persons independent of the IDB, to prepare a report with findings
and recommendations on the case. Based on the report, the Board
decides what preventive or corrective action, if any, might be needed.
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