Recommendation no3 We recommend that WIPO may consider maintenance of the

Recommendation no3 we recommend that wipo may

This preview shows page 27 - 29 out of 67 pages.

Recommendation no.3 We recommend that WIPO may consider maintenance of the accounting data relating to fee received and receivable in respect of PCT applications in the related currencies for every application / receiving office. Employee Benefits 32. On the basis of an actuarial valuation carried out in December 2013 by an independent office, the liability on account of Repatriation Grants and Travel (RGT) and After Service Health Insurance (ASHI)was valued at 12.2 million Swiss francs and 119.6 million Swiss francs, respectively, as at 31 December 2013. 33. The demographic profile of the members is one of the critical factors in the valuation of the post-employment benefits liability of an Organization particularly in case of ASHI where the age profile of a retiring member significantly impacts the extent and period of medical insurance premium liability accruing to the Organisation. It was, however, observed that the demographic assumptions relating to the retirements and staff turnover being considered for working out the actuarial valuation of the liabilities and benefits for RGT and ASHI were not based on the current data on demographic trends of retirement/ staff turnover, but were based on the data for the period 2002 to 2009. 34. The management stated that complete and up-to-date data concerning retirements and staff turnover was provided to the external actuary for the calculation of the Organization’s post-employment benefit liabilities as at December 31, 2013. Based on all the data provided, it was considered appropriate by the actuary to maintain the turnover and retirement rates as applied in the pr evious year’s calculation.
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WO/PBC/22/3 page 24 WIPO-Report of the External Auditor Financial Year 2013 C&AG of India Page 19 Management accepted that demographic assumptions should be reviewed and updated. Recommendation no. 4 We recommend that WIPO may consider reviewing and updating the demographic assumptions relating to retirements/staff turnover adopted in the actuarial valuation of post employment benefits. PROGRAM 9- AFRICA, ARAB, ASIA AND THE PACIFIC, LATIN AMERICA AND THE CARIBBEAN COUNTRIES, LEAST DEVELOPMENT COUNTRIES Introduction 35. Strategic Goal III, Facilitating the Use of IP for Development, drives WIPO’s multiple technical assistance and capacity building activities and serves as the high level framework for Program 09. The objective of program 09 is to strengthen sustainable IP capacities, national IP strategies and policies, legislative and regulatory frameworks, institutional and technical infrastructure and human resource capacity building in developing countries and least developed countries (LDCs) enabling effective use of IP for development besides enhancing domestic innovation and creativity in their respective countries. The Program aims to ensure that technical assistance and capacity building provided to developing countries and LDCs is targeted at the specific needs of countries in different regions and different stages of development and is tailored to meet those needs.
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  • Summer '17
  • External auditor, Auditor's report, World intellectual Property organization

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