Our Mission is to further the objectives of the European Union by making long-term finance available for sound investment.
The EIB Group promotes Corporate Responsibility through its mission and activities in the service of the European Union, through the way it implements these and through its internal management.
The EIB attaches great importance to engaging with civil society and building cooperative relations with its representatives.
The Audit Committee is an independent body answerable directly to the Board of Governors and responsible for verifying that the operations of the Bank have been conducted and its books kept in a proper manner. At the time of approval of the financial statements by the Board of Directors, the Audit Committee issues its statements thereon. The reports of the Audit Committee on the results of its work during the preceding year are sent to the Board of Governors together with the annual report of the Board of Directors. The Audit Committee is composed of six Members, appointed by the Board of Governors for a non-renewable term of office of six consecutive financial years.
As the Audit Committee is non-resident, members do not receive a remuneration from the Bank. For each meeting day of the Committee (normally ten per year) in which they participate Members and Observers of the Audit Committee receive an indemnity of EUR 1050. In addition the Bank pays a per diem of EUR 200 as a lump-sum reimbursement for hotel and related expenses to be covered by individual Committee Members and reimburses travel expenses.
Date of situation: 29/08/2011
The following processes maintain objectivity and independence in the appointment and removal of members of the Board of Directors and Management Committee and staff in the Senior Management Cadre, and in the setting of their remuneration.
The Annual Reports were prepared by the Audit Committee of the Bank, an independent body of individuals appointed by, and reporting to, the Board of Governors. These reports are published in accordance with a decision of the EIB's Board of Governors on 17 May 2011.
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