The Board approved the administrative policies of the Green Climate Fund (the Fund) (decision B.06/03) covering human resources, administrative budget, procurement and asset management, information and communication technology, and audit and internal controls. Policies shall be supplemented by administrative guidelines endorsed by the Board and promulgated by the Executive Director (ED).

In addition, in decision B.07/02, the Board has decided to adopt the initial fiduciary principles and standards for the Fund, including the Internal Audit (Annex II, sub-item 1.1.3 B) and Control Framework (Annex II, sub-item 1.1.4).

The administrative guidelines on the internal control framework and internal audit standards is set out in Annex II to this document.