The Oversight Advisory Committee shall serve in an expert advisory capacity and report to the Committee of Ministers and it may advise the Secretary General, as appropriate within the limits of his or her responsibilities:
- on the scope, adequacy, effectiveness and efficiency of the Organisation’s governance, risk management and internal and external control and their independence, credibility, efficiency and value added of the internal oversight functions,
- on the quality of financial statements and reports,
- on all corporate governance issues relating to the system of internal and external controls and its performance,
- on the systems established by the Council of Europe to maintain and promote staff values and to ensure compliance with applicable regulations and standards of integrity and ethical conduct in order to prevent conflict of interest and unlawful conduct and processes implemented for preventing fraud,
- on any matters of policy requiring corrective action and improvements in the area of controls, including appraisal of policies, procedures, evaluation, audit, investigation and risk management.