WORLD TRADE  
ORGANIZATION  WT/BFA/W/158 
19 September 2007 
 (07-3928) 
Committee on Budget, Finance and Administration  
  
 
     
 
 
DIRECTOR GENERAL'S REPORT ON EXTRA-BUDGETARY FUNDS  
 
FOR 2006 
 
AND REPORT OF THE EXTERNAL AUDITOR THEREON 
 WT/BFA/W/158 
Page 2  
 
  TABLE OF CONTENTS 
 
  Page
 
EXTRA-BUDGETARY FUNDS ENTRUSTED TO THE WTO ......................................................3  
Description and Activity in 2006............................................................................................... ............3  
T0006 – Netherlands – Trainee Programme .......................................................................................3  
TNL05 – Netherlands – Trainee Programme ......................................................................................3  
TAPF1 - Annual Public Forum .............................................................................................................3  
TDDA4 and TDDA6 – Doha Development Agenda Global Trust Fund ...........................................4  
TES06 – Spain – DDAGTF –  Earmarked for Latin American and Caribbean Countries ............5  
TFI03 – Finland – DDAGTF – Earmarked for LDC ..........................................................................5  
TFR03 – France – Sanitary and Phytosanitary (SPS) Related Activities .........................................5  
TIF01 – UNDP – Integrated Framework (IF) – Outreach Activities ................................................6  
TIF02 – Integrated Framework (IF)  – Programme Implementation Unit .......................................6  
TIMM1 – Internships for Selected Members' Missions in Geneva ...................................................6  
TJIT2  - JITAP II ............................................................................................................................... ...7 
TMI06 – Ministerial Conference - Participation of Least Developed Countries (LDCs) ................7  
TNO04 – Norway – Annual NGO Symposia .......................................................................................7  
TRC01, TRC02 and TRC03  – ITC/WTO/EU – Reference Centers .................................................7  
TTRTA – Strategic Review of Trade Related Technical Assistance Activities ................................8  
TUS03 – United States – SPS Related Activities .................................................................................8  
TWB01 – Standards and Trade Development Facility (STDF) on SPS ............................................8  
EPSF – Programme Support Fund ......................................................................................................9  
ES963 – 1996 Surplus – Legal Expert Services ...................................................................................9  
T0013 – Independent Entity -Preshipment Inspection – Deposits .....................................................9  
TPS01 – Preshipment Inspection – Review Alcatel / SGS ..................................................................9  
EXTRA-BUDGETARY FUNDS FINANCIAL STATEMENTS 
AS AT 31 DECEMBER 2006......................................................................................................... .....11  
Statement 1 - Extra-Budgetary Fundsconsolidated assets and liabilities  
 as at 31 december 2006 ................................................................................................12  
Statement 2 - Extra-Budgetary Funds Consolidated Income and Expenditure   as at 31 December 2006 ...............................................................................................13
 
Statement 3 - Extra-Budgetary Funds Changes in Held to the Credit of Donors  as at  31 December 2006 ..............................................................................................14
 
EXTRA-BUDGETARY FUNDS FIN ANCIAL OVERVIEW - 2006..............................................15  
Table 1 -  Extra-Budgetary Funds - Financial Situation Overview – 2006.....................................17  
Table 2 -  Extra-Budgetary Funds Volunt ary Contributions Received in 2006.............................18  
Table 3 -  Extra-Budgetary Funds - Interest Earned in 2006 ..........................................................19  
Table 4 -  Extra-Budgetary Funds Overheads Charged in 2006 .....................................................20  
Table 5 -  Extra-Budgetary Funds Detail - Balances Held to the Credit of Donors  
 as at 31 December 2006 ...................................................................................................21  
Chart 1 - Regional Distribution of Expenditure 2006.......................................................................22  
Chart 2 - Expenditure Distribution by Subject 2006........................................................................22 
REPORT OF THE EXTERNAL AUDITORS  ON THE ACCOUNTS OF THE EXTRA-
BUDGETARY FUNDS................................................................................................................ ........23  
ANNEX STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES ....................................25   WT/BFA/W/158 
 Page 3 
 
 
  EXTRA-BUDGETARY FUNDS ENTRUSTED TO THE WTO 
 
Description and Activity in 2006  
  T0006 – Netherlands – Trainee Programme  
1. The Netherlands financed the employment of young graduates from least developed countries 
from 1998 to 2005.  
2. The aim of the programme was to assist in the economic and social development of 
developing countries in areas related to trade policy by providing graduates from developing 
countries, who have limited working experience, with the opportunity to learn about development 
related matters dealt with in the WTO.  The train ees were appointed at grade 7 and worked under the 
guidance of staff members of the WTO for a period of fourteen months to two years. 
3. This programme came to an end at the end of th e first quarter of 2005.  The unspent balance 
remaining in the fund was refunded in 2006 and the fund was closed. 
TNL05 – Netherlands – Trainee Programme 
 
4. Following the expiry of the former trust fund of the Netherlands for trainees, a new 
programme came into effect based on new terms a nd conditions.  It was launched on 1 April 2005 and 
will be completed by 31 December 2008.  
5. The Netherlands Trainee Programme aims at ca pacity building to assist in the economic and 
social development of least developed countries,  low income countries and comparable poor and 
vulnerable economies, with particular attention give n to African countries, in areas related to trade 
policy.  The programme provides junior public officials with the opportunity to learn about matters dealt with in the WTO.  Trainees work under th e supervision of staff members of the WTO for a 
period of up to ten months and receive a monthly lump sum.  Selected candidates are assigned 
specific and well defined tasks.  They  are al so assigned tasks involving their own countries and 
including inter alia  national needs assessment for technical as sistance requirements, assisting in the 
preparation of Trade Policy Reviews, and providing support in the accession process. 
6. In 2006, trainees from the following countries benefited from this Programme: Guinea, 
Mongolia, Kenya, Burundi, West Indies, Zambia, Zimbabwe, Mauritania, Uganda, Bhutan, Armenia, 
Namibia, Laos, Lebanon, Lesotho, Bangladesh, Pa raguay, Nepal, Sudan, Tonga, Angola, Kyrgyz 
Republic, Senegal, Benin, Malawi , Sierra Leone, Mali, Vanuatu, Rw anda, Central African Republic, 
Djibouti. 
7. Fifteen trainees who had started their assignmen t in 2005 completed their terms during 2006.  
Sixteen additional trainees joined the Programme during the course of the year bringing the total 
number of trainees financed from this fund up to 31 at the end of 2006.  
TAPF1 - Annual Public Forum 
 
8. The Annual Public Forum is WTO's outreach even t, which provides a platform for discussion 
dialogue and reflection among all stakeholders of  the multilateral trading system.  The 2006 WTO 
Annual Public Forum, entitled "What WTO for the XXI st Century"  was held in Geneva, from 25 to 
26 September.  Approximately 1,000 participants a ttended the event.  Throughout the two days, a total 
of twenty-five working sessions took place.  The Forum opened with a plenary and two high level 
sessions, organized by the WTO.  Twenty-two  sessions were organized by civil society WT/BFA/W/158 
Page 4  
 
  representatives from non-governmental organizations , business organizations, representatives from 
industrial groups, academics and in tergovernmental organizations. 
9. The 2006 WTO Annual Public Forum was financed with the voluntary contributions of 
Norway and the European Commission. 
TDDA4 and TDDA6 – Doha Development Agenda Global Trust Fund 
 10. In past years, following the creation of the Doha Development Agenda Global Trust Fund 
(DDAGTF) in December 2001, the General Counc il, based on recommendations from the Committee 
on Budget, Finance and Administration, had set the target amount for the DDAGTF at CHF24 million for the implementation of WTO trade-related capacity  building activities.  This decision was reapplied 
for the year 2006.  The transfer of funds rema ining from 2005, as well as some timely contributions 
into the DDAGTF for 2006 once again provided the WT O Secretariat with the necessary resources to 
start the implementation of activities early in the year.  Several regional seminars, workshops and 
training courses, as well as national missions, c ould thus be implemented without delay. 
11. The DDAGTF financed a large majority of a ll trade-related technical assistance (TRTA) 
activities contained in the Technical Assistance a nd Training Plan for 2006, both at the national and 
the regional levels.  More than 100 national se minars and technical missions, over 120 regional 
seminars, workshops and Geneva-bas ed symposia, as well as five trade policy courses for the regions 
were financed from the Global Trust Fund.  Many of these activities were undertaken as part of the 
partnership arrangements with other agencies and bodies that the WTO cooperates with.  A regional 
balance in the distribution of the technical assi stance activities was maintained.  The complete 
qualitative and quantitative overview of TRTA undertaken in 2006, wh ich would be presented by the 
Secretariat to the Membership in the Spring 2007, is contained in the "Annual Report on Technical 
Assistance and Training (1 January to 31 December 2006)". 
12. A vast majority of national and regional ac tivities (70 per cent) specifically addressed WTO 
Agreements.  Capacity-building on multi-topic gene ral technical assistance represented 18 per cent of 
those activities.  They were followed by assistan ce provided in support of the Trade Policy Reviews 
Mechanism (9 per cent), Services (9 per cent), Sa nitary and Phytosanitary Measures (8 per cent), 
Trade-related Aspects of Intellectual Property Right s, and Market Access issues (7 per cent each).  
Other subject matters covered included: Trade Fac ilitation, Rules, Development issues, Accessions, 
Agriculture, Competition Policy, Dispute Settlement, Government Procurement, Trade and Environment, and Trade Negotiations Skills.  In 2 006, least-developed countries (LDCs) continued to 
be given priority attention, w ith 44 per cent of all  TRTA activities involving at least one LDC. 
13. Five Regional Trade Policy Courses were included in the TA Plan for 2006.  They covered 
the African French- and English-speaking regions, Asia and the Pacific, the Caribbean, as well as 
Latin America.  Organized in close partnership with local universities and academics from the region, 
each course ran over a three-months period and prov ided WTO-related capacity-building and training 
to officials from least-developed and other developing countries.   
14. The e-Training programme, which was started in 2005, was further developed in 2006, and by 
the end of the year, six Introduction Courses to the WTO and its Basic Principles, as well as an Introduction Course on Rules, had been implemente d.  Funding for the development of course 
material, the site animation and up date, the management of online vi deo and audio course material, as 
well as administrative support was provided through the DDAGTF. 
15. Activities dedicated to Information Technology Development in 2006 included the 
establishment or upgrading of 23 WTO Reference Cent res, the free Internet Access and connectivity 
for least-developed countries, as well as several distance learning projects.  WT/BFA/W/158 
 Page 5 
 
 
  16. Six-month internships in Missions assuming the role of Regional Group Coordinator were 
funded through the DDAGTF.  Other projects, in th e form of support programmes for doctoral studies 
and research collaboration with universities, as well as several temporary assistance posts (L Posts) were financed through this extra-budgetary source. 
TES06 – Spain – DDAGTF –  Earmarked for Latin American and Caribbean Countries 
 17. Funds which remained available in this fund at the end of 2005  were rolled over to 2006 and 
added to the new contribution provided by Spain in 2006.  The contribution of Spain towards the cost 
of activities contained in the Annual Technical As sistance and Training Plan were earmarked for 
Latin American and Caribbean countries. 
18. In 2006, funds provided by Spain were used to finance the following activities:  
• Short Trade Policy Course, Montevideo, Uruguay, 28 August – 8 September 2006. 
 
• DDA Advanced Training Programme for Senior Government Officials from Spanish-
speaking countries in Latin America on WTO and FTAA issues, Washington, USA, 12-23 June 2006. 
 
• WTO Regional Workshop on the TRIPS Agreem ent for Latin American Countries, San 
Jose, Costa Rica, 18-20 September 2006. 
 
• Regional Seminar on SPS for Spanish-speaking Countries, Bogota, Colombia, 
30 October - 2 November 2006. 
TFI03 – Finland – DDAGTF – Earmarked for LDC  
 
19. The contribution of Finland towards the cost of activities contained in the Annual Technical 
Assistance and Training Plan was earmarked for Least Developed Countries (LDC). 
20. In 2006, the costs for 49 participants from the LDC in the following activities implemented 
under the Doha Development Agenda Globa l Trust Fund were met from this fund. 
• Doha Development Agenda Advanced Tr aining Program for Senior Government 
Officials, Antananarivo, Madagascar, 24 – 28 April 2006; 
• Regional Trade Policy Course for French-Sp eaking African Countries, Rabat, Morocco, 
8 May – 28 July 2006; 
• Regional Trade Policy Course for English-Speaking African Countries, Windhoek, 
Namibia, 5 June – 25 August 2006. 
TFR03 – France – Sanitary and Phytosanitary (SPS) Related Activities 
 
21. Funds provided by France for SPS related ac tivities for capacity building and technical 
assistance to assist developing countries in trade an d SPS measures will be used in 2007 to finance the 
participation of regional secretariats in the WT O regional SPS workshops and additional costs related 
to the organization of the advanced course on SPS organized by the WTO Training Institute. WT/BFA/W/158 
Page 6  
 
  TIF01 – UNDP – Integrated Framework (IF) – Outreach Activities 
22. UNDP is the trustee of the Integrated Fram ework Trust Fund (IFTF) on behalf of the six 
Integrated Framework Agencies (ITC, IMF, UNDP, UNCTAD, World Bank and WTO).  The WTO acts as the Secretariat to the IF and conducts outreach activities for the IF. 
23. UNDP created a specific project, Integrated Framework Global Advocacy and Information 
Strategy, to allow the transfer of USD 100,000 from the IFTF to the WTO in 2004. 
24. The project aims to enhance advocacy and public  awareness of the Integrated Framework (IF) 
initiative.  Activities will focus on the disseminati on and sharing of inform ation, knowledge and 
lessons on trade mainstreaming experiences in partner LDCs.  The primary goal of the project is to 
generate a common and better unde rstanding of the IF's scope, process and methodology for trade 
mainstreaming into national development plans, incl uding poverty reduction strategies.  The project is 
also expected to help generate a better unders tanding of the development dimension of trade, 
especially with respect to the LDCs.  In this rega rd, the project will complement and reinforce least 
developed countries' own efforts to participate effectively in the global economy through solid 
partnership with development agencies, donors, a nd other stakeholders that will facilitate better 
informed global integration and cooperation. 
25. To date, it has not been necessary to use the resources available in this trust fund.   
Discussions to enhance the IF are on-going  in th e Integrated Framework Task Force, which was 
created in 2005.  It is expected that following th e establishment of an enhanced IF, outreach activities 
will be organized necessitating funds from the proj ect.  WTO Ministers in Hong Kong decided that 
the Enhanced IF should enter into force no later th at 31 December, 2006.  Unfortunately, this deadline 
has been missed.  However, the discussions on th e establishment of the Enhanced Integrated 
Framework Secretariat have advanced and it is e xpected to be finalized during the course of 2007. 
TIF02 – Integrated Framework (IF) – Programme Implementation Unit 
26. Denmark, Switzerland and the United Kingdom agreed to provide the necessary resources for 
the establishment of the IF Programme Implemen tation Unit (PIU), thereby strengthening the IF 
Secretariat.  The PIU would consist of a chief coor dinator, a deputy coordinator and an administrative 
assistant.  At the end of  2006, incumbents for th e posts of chief coordinator and deputy coordinator 
had been selected.  They were expected to take up their assignments during the first quarter of 2007. 
27. Upon the establishment of the Enhanced IF, th e PIU will be integrated into of the new 
structure. 
TIMM1 – Internships for Selected Members' Missions in Geneva 
28. Contributions provided by Denmark and Ireland fi nanced the cost of twenty-one internship 
contracts in 2006.  Three interns who had started their assignments in 2005 completed their terms in 2006.  Eighteen additional interns joined the progra mme in 2006.  The contracts of sixteen of them 
will run into 2007.  Interns employ ed under this programme work in their own country Mission in 
Geneva and represent their respectiv e country on selected WTO committees. 
29. These internship are open to nationals of developing countries including LDCs and of 
economies in transition with a mission in Geneva.  The required qualification of candidates include (i) 
an appropriate economics, trade and/or  law degree at the post-graduate le vel, (ii) mastery of one of the 
WTO working languages and preferably a good know ledge of another, (III) work experience in the 
national administration in a trade-related area.  S upport function positions are not considered part of 
this programme.  Selected candidates are offered a contract for a maximum of ten/eleven months.   WT/BFA/W/158 
 Page 7 
 
 
  30. The interns who were on board during 2006 were from Bolivia, Tanzania, Nicaragua, 
Uganda, Kenya, Benin, Burundi, El Salvador, Leso tho, Mali, Nepal, Cambodia, Nigeria, Yemen, 
Guinea, Mauritania, Bangladesh, Rwanda, Mauritius.  
TJIT2 - JITAP II 
31. Activities undertaken under the Joint Integrated Technical Assistance Programme (JITAP II), 
implemented jointly by ITC, UNCTAD, and WTO, included national and sub -regional workshops, the 
establishment/strengthening and operationalization of  Reference Centres (RCs) and National Enquiry 
Points (NEPs), monitoring and technical missions  to all the current JITAP countries, the provision of 
documentation related to Reference Centres and National Enquiry Points, as well as Focal Point 
support in the WTO. 
32. The JITAP II programme completed the implementation of Module 2, in which the WTO had 
the lead role, for all remaining JITAP countries,  in 2006.  This Module aimed to enhance 
dissemination of MTS-related information in the participating African countries, through RCs and 
NEPs.  The partner agencies developed a Toolkit for the  implementation of Module 2, which was 
applied during the implementation missions.   
33. Training in 2006 included implementation missi ons for RCs and NEPs ope rators in Botswana, 
Cameroon, Malawi, Mauritania, Mozambique Sene gal,  and Zambia.  In addition, the WTO 
participated in "post-Hong Kong" activities, desi gned to de-brief the national focal points on the 
outcome of the Hong Kong Ministerial Conference and the way forward in the DDA negotiations.  
These activities involved the negotiating subjects of Agriculture (including cotton), NAMA, Services, 
and Development Issues.   
34. Finally, back-up support to the Focal Point in the WTO's Institute for Training and Technical 
Cooperation, in the form of one post for a JITAP Technical Officer and one secretarial post were 
financed under JITAP II. 
TMI06 – Ministerial Conference - Participation of Least Developed Countries (LDCs)  
35. In order to facilitate the participation of LDCs  at WTO Ministerial Conferences, trust funds 
are established to cover the travel costs of thei r delegates.  This fund was established for the 6th 
Ministerial Conference held in Hong Kong, China from 13 to 18 December 2005.  
36. Remaining balances are carried forward to be used for the same purpose in the future.  
TNO04 – Norway – Annual NGO Symposia 
37. The financial support that Norway provided in 2003 has been used to organize three annual 
public symposia, i.e., 2003, 2004 an d 2005 events.  These events served  as a platform for discussion, 
dialogue and reflection among all stakeholde rs of the multilateral trading system. 
38. In 2006, the balance remaining in this fund was transferred to a new trust fund (TAPF1) 
which pooled resources from other donors to finance WTO's 2006 outreach activity, entitled the Annual Public Forum.  
TRC01, TRC02 and TRC03  – ITC/WTO/EU – Reference Centers 
39. In order to assist Trade Ministries, Specia lized Agencies and Institutions to obtain WTO-
related information using information technolog y, Reference Centers are established with high 
performance PC equipment .  Reference Centers provide technical facilities that enable WTO WT/BFA/W/158 
Page 8  
 
  documentation to be accessed by officials, the press, the general public, businesses, the wider 
economic community and academic institutions.  The Reference Centers set up are for official use, 
attached to a Ministry of Trade, and essentially house all documents that relate to the legal rules 
governing the MTS. 
40. This contribution provided by ITC and Eu ropean Commission enabled three Reference 
Centers in Pakistan (Karachi, Lahore, Islamabad)  and another in Sri Lanka to be established. 
41. In 2006, the remaining balances were refunde d to the donor and the funds were closed. 
TTRTA – Strategic Review of Trade Related Technical Assistance Activities 
 
42. In implementing the Annual TA Plans, moda lities for effective and efficient delivery and 
systematic gathering of feedback from the recipi ents (Members) and beneficiaries (participants) 
gained importance.  Therefore, in 2002, the Secretariat put a  monitoring and evaluation (M&E) system into effect.  WTO's internal M&E system 's main means of action is self-evaluation.  
43. Donors of the DDAGTF emphasized the importance of getting independent views and 
recommendations, which are usually not subject to on -going internal evaluations.  Australia, Canada, 
Netherlands, Sweden, Switzerland and the United Ki ngdom provided contributions in 2005 for the 
Strategic Review of Trade Related Technical Assistance (TRTA).  A consultancy firm was selected to conduct the Strategic Review of TRTA in 2006.  Th e project was completed by the end of the first 
semester of 2006. 
TUS03 – United States – SPS Related Activities 
44. The United States provided a contribution in 2 004 and pledged an additional amount for 2006 
for SPS related activities.  The resources made availa ble are to be used toward completion of the SPS 
Notification Database and/or to invite a repre sentative of an African regional economic grouping 
(COMESA) to attend the specialized course on the SPS Agreement.  
TWB01 – Standards and Trade Development Facility (STDF) on SPS 
45. At the Doha Ministerial conference held in Qa tar in November 2001, the Heads of the WTO, 
FAO, WHO, OIE and the World Bank committed their respective organizations to work together to 
strengthen the capacity of developing countries in meeting SPS standards.  The establishment of the 
Standards and Trade Development Facility (STD F) in September 2002 resulted from this joint 
commitment. 
46. The aim of the STDF is to assist developing  countries enhance their capacity to meet 
international Sanitary and Phytosanitary (SPS) sta ndards, improve their human health, animal health 
and phytosanitary situation, a nd thus gain and maintain market access.  The seed funding was 
provided by the World Bank.  The STDF attracted funds  from other sources to sustain itself.  In 2006, 
Denmark, Germany, Netherlands, Sweden; United Kingdom and United States provided new 
contribution. 
47. The STDF is managed by the WTO and develops  joint institutional projects and provides 
funding for SPS related projects in developing count ries.  It is both a financing and a coordination 
mechanism.  The STDF provides funds for two types of  grants: project preparation grants and project 
grants.  WT/BFA/W/158 
 Page 9 
 
 
  EPSF – Programme Support Fund 
48. The Programme Support Fund (PSF) receives the 13 per cent overhead fees charged on direct 
costs in all the trust funds administered by the WTO.   According to its terms of reference, it should be 
used to finance expenses of a general nature (i.e .  not related to any specific technical assistance 
project) which support technical assistance activities of the WTO as a whole.  WTO shares part of the 
13 per cent overhead fees charged to various trust funds that it manages with implementing partners. 
49. Ten per cent of the expenses in the PSF is statutorily credited back to the WTO regular budget 
as a contribution to cover part of the operational costs incurred in relation with technical assistance 
activities (telephone, reproduction and translation). 
50. In 2006, expenses in the PSF corresponded mainly  to L Post contracts (fixed-term positions) 
and short-term contracts for professionals or suppor t staff performing back-office duties relating to the 
delivery and the administration of technical assistance activities. 
51. The fixed and short-term contracts financed included the following: 
- Six support staff in the Budget and Contro l Section (Extra-Budgetary Funds Unit and 
Logistics Unit); 
- one support staff in the Finance and Accounts Section; 
- one support staff in the Travel Unit; 
- one support staff in the Human Resources Division; 
- one support staff in the Language Services and Documents Division; 
- two support staff in the ITTC; 
- two support staff in the Informatics Division; 
- three support staff in the Economic Research and Statistics Division. 
 
ES963 – 1996 Surplus – Legal Expert Services 
52. This fund was financed from the 1996 WTO surplus.   In 2006, two professors of International 
Trade Law provided legal advice and assistance in resp ect of dispute settlement to developing country 
Members. 
T0013 – Independent Entity -Preshipment Inspection – Deposits 
53. Independent Entity (IE) is a mechanism for settling disputes between exporters and pre-
shipment inspection companies/ agencies, constituted by the WTO, International Chamber of 
Commerce (ICC) and International Federation of Inspection Agencies (IFIA) and established under 
Article 4 of the Agreement on Pre-shipment Inspection. 
54. This fund consists of deposit payments made by the pre-shipment inspection companies to 
cover the estimated costs of an independ ent review in the event of a dispute. 
TPS01 – Preshipment Inspection – Review Alcatel / SGS 
55. In 2005, the first pre-shipment inspection case w as brought to the Independent Entity.  Parties 
involved in the case were Alcatel and Société Générale de Surveillance SA.  The review was 
completed in 2005.  2006 saw the reopening of the same case for a second review, at the request of 
the parties.  The panel completed its re view and submitted its report in 2006. 
  WT/BFA/W/158 
 Page 11 
 
 
   
    
 
    
 
    
 
EXTRA-BUDGETARY FUNDS 
 
FINANCIAL STATEMENTS 
 
AS AT 31 DECEMBER 2006 
 WT/BFA/W/158 
Page 12  
 
  STATEMENT 1 
EXTRA-BUDGETARY FUNDS 
CONSOLIDATED ASSETS  AND LIABILITIES  
AS AT 31 DECEMBER 2006 
(in Swiss francs) 
 
ASSETS LIABILITIES 
       
Education Grant Advance 134,304.90 Reserve for 2006 obligations    
    outstanding as at 31  December 2006 1,380,638.60 
Travel Advance 6,700.00    
       
Advances to Implementing Partners 306,518.00 Held to the credit of Donors  17,333,412.49 
       
Miscellaneous Accounts Receivable 49,973.74    
       
Publications Inventory 34,687.99    
       
Prepaid Expenditure 22,463.62    
       
WTO - General Fund 18,159,402.84    
        
TOTAL ASSETS 18,714,051.09 TOTAL LIABILITIES 18,714,051.09 
    
 
  WT/BFA/W/158 
 Page 13 
 
 
  STATEMENT 2 
EXTRA-BUDGETARY FUNDS 
CONSOLIDATED INCOME AND EXPENDITURE  
AS AT 31 DECEMBER 2006 
(In Swiss Francs) 
 
EXPENDITURE   INCOME  
        
Fixed-term Contracts - Salary 2,613,876.95 Voluntary Contributions  25,527,228.46 
Fixed-term Contracts - Common Staff Costs 1,013,178.60     
Temporary Assistance - Support Staff 2,097,470.52 Interest Earned  262,949.00 
Temporary Assistance - Translators 40,038.50     
Temporary Assistance - Interpreters 92,686.63 Overheads  2,651,026.07 
Temporary Assistance - Consultants 102,994.64     
Temporary Assistance - Internships 1,033,107.55     
Overtime 10,428.55     
Temporary Assistance - Common Staff Costs 354,320.84     
Telecommunications 108,483.29     
Postal Charges 217,729.05     
Rental and maintenance 3,393.00     
Equipment - Office, Computing and Audio Visual 526,786.89     
Rental of Equipment - Computing, Audio Visual 41,148.72     
Supplies - Office, Computing and Reproduction 65,239.85     
Reproduction 92,579.23     
Office Automation and Maintenance 7,100.00     
Security Outsourcing 16,500.00     
Insurance 82,663.67     
Advertisement - Vacancies 16,128.82     
Technical Assistance - Rental of C onference Rooms 379,966.66     
Technical Assistance - Airfa res 6,767,749.45     
Technical Assistance - Subsis tence 3,748,301.50     
Technical Assistance - Hotels 2,504,074.43     
Technical Assistance - Hospitality 19,550.87     
Technical Assistance - Public ations 186,023.70     
Technical Assistance - Bank Charges 22,567.40     
Technical Assistance - Mee tings 143,584.02     
Technical Assistance - Miscellaneous 43,712.43     
Previous Year Adjustments -7,111.40     
Profit on Exchange -6,837.37     
Interest on Current Account -1,579.28     
Overheads Charged 2,651,026.07     
Overheads Shared with Implementing Partners 322,378.81     
        
Sub-total Expenses 25,309,262.59     
        
Contribution Reimbursements 662,229.71     
        
Total Expenditure 25,971,492.30 Total Income 28,441,203.53 
 Excess of Income over Expenditure for the year  2,469,711.23       WT/BFA/W/158 
Page 14  
 
  STATEMENT 3 
EXTRA-BUDGETARY FUNDS 
HELD TO THE CREDIT OF DONORS  
AS AT  31 DECEMBER 2006 
(In Swiss Francs) 
 
    
Balance held to the credit of Donors as at 
1 January 2006 14,868,585.17 
    
Transfer to TDDA6 -4,883.91 
    
Excess of income over expenditure for the year 2,469,711.23 
    
TOTAL 17,333,412.49 
  
 
  WT/BFA/W/158 
 Page 15 
 
 
  EXTRA-BUDGETARY FUNDS 
FINANCIAL OVERVIEW - 2006 
 
 
56. Table 1 synthesizes the financial situation of all the extra-budgetary funds as at 31 December  
2006. 
57. The Secretariat prepares a detailed financial statement of accounts for each  individual trust 
fund.  These reports are submitted to the donors and contain factual information including date, type, 
location, beneficiaries and subject of events with regard to the activities undertaken or under way with 
the financial support of the voluntary contributions. 
58. Resources made available by the donor in the following trust fund have been fully used and 
closed at the end of 2006:    
TFI03 – Finland – DDAGTF - Earmarked for LDCs. 
59. The unspent balances after the completion of the projects in the following trust funds have 
been reimbursed and closed at the end of 2006:   
T0006 -  Netherlands  - Trainee Programme 
TRC01 -  ITC/EU - Reference Center Project TRC02 -  ITC/EU - Reference Center Project TRC03  -  ITC/EU - Reference Center Project 
60. The remaining balance of the following fund has been transferred to a new fund entitled 
Annual Public Forum (TAPF), which pooled r esources from other donors for the same purpose: 
TNO04 -  Norway - Annual Public Symposia. 
61. In 2006, total voluntary contribution received amounted to CHF 25,527,228.46.  The total 
amount of interest earned was CHF 262,949.  Overheads charged at 13 per cent on the direct costs incurred in the trust funds amounted to CHF 2,651, 026.07, of which CHF 322,378.81 was shared with 
other implementing partners, l eaving net resources of CHF 2,328,647.26 in the Programme Support 
Fund.  Tables 2 to 4 present the details of the cont ributions received, interest earned and the overheads 
by trust fund and by donor in each fund. 
62. Expenditure, excluding the overheads, incurred in all the trust funds totalled 
CHF 22,335,857.71 for the year 20 06.  Table 1 presents the level of expenses by trust fund. 
63. As at 31 December 2006, balances held to the cred it of donors in all the funds entrusted to the 
WTO amounted to CHF 17,333,412.49.  The breakdown of the total amount held to the credit of 
donors is shown in Table 5 by trust fund and by donor in each fund. WT/BFA/W/158 
Page 16  
 
  64. Charts 1 and 2 complement the information provided in the consolidated statements by 
presenting a statistical analysis, largely based on qualita tive inputs, of the total expenditure incurred in 
the course of the year in the following funds dedicat ed to the implementation of the Annual Technical 
Assistance and Training Plan:  
TDDA6 Doha Development Agenda Globa l Trust Fund CHF  16,272,945.64 
TES06 Spain – Earmarked 441,699.09 
TFI03 Finland – Earmarked 1,328,085.76 TIMM1 Internship Programme 220,962.00 TJIT2 JITAP II 971,840.61 TNL05 Netherlands Trainee Programme 782,271.40 
  _______________ 
  20,017,804.50    65. They contain information on the geographical/r egional and subject-based distribution of the 
total expenditure.  To the extent possible, expe nditure has been classified and grouped under seven 
regions in Chart 1.  As to the subjects, Chart 2 s hows the substantive topics that have been covered.  
   WT/BFA/W/158
 Page 17TABLE 1 
EXTRA-BUDGETARY FUNDS - FINANCIAL SITUATION OVERVIEW – 2006 
             
Fund Donor Fund Balance on 
1st Jan. 2006  Transfers 
between 
Funds  Contributions 
Received  Interest  Contribution 
Reimbur- 
sements  Expenditure Overhead 
Fees  Total 
Expenditure  Balance  
31 Dec 2006 Notes 
TRUST FUNDS                    
T0006 Netherlands Trainee Programme 602,127.30     602,127.30   -  -  -  (1) 
TAPF1 Norway and EC Annual Public Forum - 95,581.94 342,196.68 2,097.38    184,210.10 23,947.31 208,157.41 231,718.59   
TDDA4 WTO Members DDAGTF - 2005 7,584,845.46 (7,584,845.46)         -  -  -  (1) 
TDDA6 WTO Members DDAGTF - 2006 -   7, 359,845.46 18,187,859. 56 107,327.51    16,272,945.6
4 2,115,482.
93 18,388,428.57 7,266,603.96    
TES06 Spain DDAGTF - 2006 Latin 
America 181,669.52   532,836.00 9,382.01    441,699.09 57,420.88 499,119.97 224,767.56  (2) 
TFI03 Finland DDAGTF - 2006 LDCs 694,29 0.48   788,500.00 17, 946.43    1,328,08 5.76 172,651.15 1,500, 736.91 0.00  (2) 
TFR03 France SPS Related Activities 77,143.39     1,958.77      - - 79,102.16    
TIF01 UNDP IF for Outreach Activities 124,992.02     3,173.72      - - 128,165.74    
TIF02 WTO Members IF - Programme 
Implementation U. 562,905.43    1,123,600.00 34,511.54    16,128.82 2,096.75 18,225.57  1,702,791.40    
TIMM1 Denmark and Ireland Interns for Selected 
Missions 746,971.87   189,360.00 18,915.19    220,962.00 28,725.06 249,687.06 705,560.00    
TJIT2 ITC JITAP II 314,101.08    864,987.50 10,556.42    971,840.61 126,339.28 1,098,179.89 91,465.11    
TMI06 WTO Members  6th Min. Conference,  
Hong Kong 954,695.26     23,795.37  43,282.41 (20,332.00) (2,643.16)  (22,975.16) 958,183.38    
TNL05 Netherlands Trainee Programme 39,283.11   1,000,000.00     782,271.40 101,695.28  883,966.68 155,316.43    
TNO04 Norway Public Forum 94,225.94 (95,581.94)       (1,200.00) (156.00) (1,356.00) - (1) 
TPS01 Alcatel / SGS PSI Review 11,497.69   35,000.00    5,773.52 21,622.50 2,810.93 24,433.43  16,290.74    
TRC01 ITC/WTO/EU Reference Center Project (6,578.21)       (6,578.21)   - - - (1) 
TRC02 ITC/WTO/EU  Reference Center Project 14,461.76       14,461.76   - - - (1) 
TRC03 ITC/WTO/EU  Reference Center Project 3,162.93        3,162.93   - - - (1) 
TTRTA WTO Members Strategic Review of TRTA 217,341.09     3,268.80    130,796.00 17,003.48 147,799.48 72,810.41    
TUS03 United States  SPS Related Activities 19,199.85     345.94    13,278.30 1, 726.18 15,004.48 4,541.31    
TWB01 WB and WTO 
Members  STDF on SPS 1,503,093.17 225,000.00 2,462,888.72 29,669.92    30,200.00 3,926.00 34,126.00 4,186,525.81    
TOTAL TRUST FUNDS   13,739,429.14 0.00 25,527,228.46 262,949.00  662,229.71 20,392,508.22 2,651,026.07 23,043,534.29 15,823,842.60    
                         
OTHER EXTRA-BUDGETARY FUNDS                      
EPSF1 Programme Support 
Fund   1,004,276.76   2,651,026.07     1,914,560.13 322,378.81 2,236,938.94 1,418,363.89  (3) 
ES963 96 Surplus - Legal 
Expert Services   49,458.74         28,800.00 - 28,800.00 20,658.74    
T0013 IE - Pre-shipment 
Inspection    70,536.62         (10.64) - (10.64) 70,547.26    
  WTO Members - 
Adjustment 06   4,883.91           - - - (4) 
                          
TOTAL OTHER EXTRA-BUDGETARY FUNDS 1,129,156.03 - 2,651,026.07 - - 1,943,349.49 322,378.81 2,265,728.30 1,509,569.89    
                          
GRAND TOTAL   14,868,585.17 0.00 28,178,254.53 262,949.00  662,229.71 22,335,857.71 2,973,404.88 25,309,262.59 17,333,412.49    
(1) Fund closed in 2006.             
(2) Fund which can be used for the implementati on of the TA Plan - DDAGTF.          
(3) CHF 322,378.81 represents the overheads shared with implemen ting partners, thus leaving ne t resources of CHF 2,328,647.26 i n the PSF.      
(4) Balance in favour of donors credited to TDDA7.            
 WT/BFA/W/158 
Page 18  
 
  TABLE 2 
EXTRA-BUDGETARY FUNDS 
VOLUNTARY CONTRIBUTIONS RECEIVED IN 2006 
 
    
Fund Donor CHF 
        
Annual Public Forum European Commission 149,815.00   
  Norway 192,381.68   
      342,196.68 
DDAGTF Austria 310,550.00   
  Australia 228,125.00   
  Canada 500,500.50   
  Czech Republic 76,173.07   
  Germany 2,374,000.00   
  Denmark 743,050.00   
  Estonia 15,281.68   
  European Commission 717,300.00   
  France 1,195,500.00   
  Ireland 786,000.00   
  Iceland 120,000.00   
  Japan 572,727.00   
  Korea 248,000.00   
  Liechtenstein 40,000.00   
  Lithuania 46,087.20   
  Netherlands 1,095,349.00   
  Norway 2,006,420.54   
  Sweden 2,662,400.17   
  Chinese Taipei 227,480.00   
  United Kingdom 2,323,000.00   
  United States 1,229,708.40   
  Japan 136,207.00   
  Germany 234,000.00   
  Netherlands 300,000.00   
      18,187,859.56 
DDAGTF - Earmarked Spain 532,836.00 532,836.00 
DDAGTF - Earmarked Finland 788,500.00 788,500.00 
Integrated Framework - PIU Switzerland 320,000.00   
  United Kingdom 803,600.00   
      1,123,600.00 
Internship Programme Ireland 189,360.00 189,360.00 
JITAP II ITC 864,987.50 864,987.50 
Netherlands Trainee Programme Netherlands 1,000,000.00 1,000,000.00 
STDF on SPS Germany 238,500.00   
  Denmark 743,050.00   
  Netherlands 466,500.00   
  Sweden 660,400.02   
  United Kingdom 225,400.00   
  United States 129,038.70   
      2,462,888.72 
IE - Preshipment Inspection Société Générale de 
Surveillance 17,500.00 17,500.00 
Preshipment Inspection - Case Alcatel 17,500.00 17,500.00 
TOTAL     25,527,228.46 
    
  WT/BFA/W/158 
 Page 19 
 
 
  TABLE 3 
EXTRA-BUDGETARY FUNDS - IN TEREST EARNED IN 2006 
Fund Donor CHF 
Annual Public Forum European Commission 918.24   
  Norway 1,179.14 2,097.38 
DDAGTF Austria 2,689.74   
  Australia 2,034.10   
  Belgium 127.70   
  Canada 4,408.88   
  Switzerland 250.97   
  Czech Republic 399.25   
  Germany 13,182.65   
  Denmark 3,917.60   
  European Commission 377.58   
  France 499.80   
  Hong Kong China 97.20   
  Ireland 4,343.31   
  Iceland 409.04   
  Italy 3,147.16   
  Japan 5,623.78   
  Korea 988.58   
  Liechtenstein 210.16   
  Lithuania 24.26   
  Luxembourg 907.23   
  Netherlands 10,247.21   
  Norway 12,652.67   
  New Zealand 447.33   
  Sweden 19,621.32   
  Chinese Taipei 970.02   
  United Kingdom 9,661.36   
  United States 10,088.61 107,327.51 
DDAGTF - Earmarked Spain   9,382.01 
DDAGTF - Earmarked Finland   17,946.43 
SPS Related Activities France   1,958.77 
Integrated Framework - Outreach IF - UNDP   3,173.72 
Integrated Framework - PIU Switzerland 3,368.86   
  Denmark 14,222.60   
  United Kingdom 16,920.08 34,511.54 
Internship Programme Denmark 12,383.18   
  Ireland 6,532.01 18,915.19 
JITAP II ITC   10,556.42 
LDCs Ministerial Conference Austria 483.54   
  Australia 181.64   
  Canada 1,987.43   
  Switzerland 212.82   
  Denmark 3,183.04   
  WTO Members 1,078.80   
  Ireland 1,074.05   
  Iceland 310.03   
  Japan 679.82   
  Luxembourg 117.28   
  Netherlands 1,196.47   
  Norway 4,134.52   
  Sweden 6,319.31   
  Chinese Taipei 507.45   
  United Kingdom 2,329.17 23,795.37 
Strategic Review of TRTA Australia 694.90   
  Canada 361.78   
  Switzerland 369.71   
  Netherlands 738.60   
  Sweden 366.84   
  United Kingdom 736.97 3,268.80 
SPS Related Activities United States   345.94 
STDF on SPS Australia 584.34   
  Canada 1,194.37   
  Germany 458.46   
  Denmark 4,668.44   
  France 309.06   
  Italy 947.07   
  Netherlands 4,716.65   
  Sweden 6,430.50   
  United Kingdom 7,727.36   
  United States 1,364.24   
  World Bank 1,269.43 29,669.92 
TOTAL     262,949.00 
 WT/BFA/W/158 
Page 20  
 
  TABLE 4 
EXTRA-BUDGETARY FUNDS 
OVERHEADS CHARGED IN 2006 
 
  
FUND CHF 
    
Annual Public Forum 23,947.31 
DDAGTF 2,115,482.93 
DDAGTF - Earmarked - Spain 57,420.88 
DDAGTF - Earmarked - Finland 172,651.15 
Integrated Framework - PIU 2,096.75 
Internship Programme 28,725.06 
JITAP II 126,339.28 
LDCs - Ministerial Conference -2,643.16 
Netherlands Trainee Programme 101,695.28 
Annual Public Symposia - Norway -156.00 
Preshipment Inspection - Case 2,810.93 
Strategic Review of TRTA 17,003.48 
SPS Related Activities - United States 1,726.18 
STDF on SPS 3,926.00  
   
TOTAL OVERHEADS CHARGED TO VARIOUS FUNDS 2,651,026.07 
    
OVERHEADS SHARED WITH IMPLEMEN TING PARTNERS  322,378.81 
    
NET RESOURCES - PROGRAMME SUPPORT FUND 2,328,647.26 
  
 
  WT/BFA/W/158 
 Page 21 
 
 
  TABLE 5 
EXTRA-BUDGETARY FUNDS 
DETAIL - BALANCES HELD TO THE CREDIT OF DONORS  
AS AT 31 DECEMBER 2006 
Fund Donor CHF 
Programme Support Fund WTO Members   1,418,363.89 
1996 Surplus - Legal Expert Services WTO Members   20,658.74 
IE - Preshipment Inspection Bureau Veritas International 17,659.87   
  Cotecna International Ltd. 17,566.35   
  Inspectorate Griffith Ltd. 17,661.18   
  Inchcape Testing Services Int. Ltd. 17,659.86 70,547.26 
Annual Public Forum European Commission 48,005.52   
    183,713.07 231,718.59 
DDAGTF Austria 132,187.71   
  Australia 127,455.05   
  Canada 240,735.23   
  Czech Republic 29,583.66   
  Germany 1,060,623.46   
  Denmark 361,703.28   
  France 370,954.30   
  Ireland 277,515.58   
  Iceland 40,775.99   
  Italy 145,858.32   
  Japan 350,551.93   
  Korea 105,939.62   
  Luxembourg 42,046.71   
  Netherlands 576,400.21   
  Norway 829,610.22   
  New Zealand 20,731.81   
  Sweden 1,103,004.87   
  Chinese Taipei 72,530.82   
  United Kingdom 818,187.12   
  United States 560,208.07 7,266,603.96 
DDAGTF - Earmarked  Spain   224,767.56 
SPS Related Activities France   79,102.16 
Integrated Framework - Outreach UNDP   128,165.74 
Integrated Framework - PIU Switzerland 319,944.38   
  Denmark 571,016.24   
  United Kingdom 811,830.78 1,702,791.40 
Internship Programme Denmark 379,095.70   
  Ireland 326,464.30 705,560.00 
JITAP II ITC   91,465.11 
LDCs - Ministerial Conference Austria 20,395.66   
  Australia 7,661.71   
  Canada 83,829.81   
  Switzerland 8,976.72   
  Denmark 134,260.48   
  Ireland 45,303.36   
  Iceland 13,077.12   
  Japan 28,674.82   
  Luxembourg 4,946.81   
  Netherlands 50,466.96   
  Norway 174,393.70   
  Sweden 266,547.98   
  Chinese Taipei 21,404.08   
  United Kingdom 98,244.17 958,183.38 
Netherlands Trainee Programme Netherlands   155,316.43 
Preshipment Inspection  - Case Alcatel 11,007.45   
  Société Générale de Surveillance 5,283.29 16,290.74 
Strategic Review of TRTA Australia 15,478.44   
  Canada 8,058.36   
  Swizwerland 8,234.97   
  Netherlands 16,451.78   
  Sweden 8,171.40   
  United Kingdom 16,415.46 72,810.41 
SPS Related Activities Unit ed States   4,541.31 
STDF on SPS Australia 53,697.01   
  Canada 109,755.33   
  Germany 250,373.61   
  Denmark 1,077,788.65   
  France 28,400.65   
  Italy 87,029.47   
  Netherland 677,823.53   
  Sweden 879,234.38   
  United Kingdom 769,138.54   
  United States 136,632.34   
  World Bank 116,652.30 4,186,525.81 
TOTAL     17,333,412.49 
 WT/BFA/W/158 
Page 22  
 
  CHART 1 - REGIONAL DISTRIBUTION OF EXPENDITURE 
2006 
 
8.7
0.72.6
1.40.83.8
2.1
0.01.02.03.04.05.06.07.08.09.010.0
Africa
Arab and Middle East Countries
Asia-PacificCarribbean
Central & Eastern Europe & Central Asia
Global (All Regions)
Latin AmericaMillions
Total Expenditure : CHF 20 million (excluding  overheads incurred in the following funds : TDDA6, TES06, TFI03, TIMM1, TJIT2, TN L05)
 
 
 
CHART 2 - EXPENDITURE DISTRIBUTION BY SUBJECT 
2006 
 
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.03 Months RTPC & Prep.AccessionAgricultureCapacity BuildingDispute SettlementGovernment ProcurementInformation Technology/ WTO Reference CentresInternshipsMarket AccessNetherlands TraineesOtherRegional Trade AgreementsRulesSanitary and Phytosanitary MeasuresServicesTechnical Barriers to TradeTrade and DevelopmentTrade and EnvironmentTrade FacilitationTrade Negotiation SkillsTrade Policies Review MechanismTrade-Related Intellectual Property RightsUniversity Activities
Millions
Total Expenditure : CHF 20 million (excluding  overheads incurred in the following funds : TDDA6, TES06, TFI03, TIMM1, TJIT2, TN L05)WT/BFA/W/158 
Page 23  
 
  REPORT OF THE EXTERNAL AUDITORS ON THE ACCOUNTS 
OF THE EXTRA-BUDGETARY FUNDS 
 
 
66. The WTO Extra-Budgetary Funds are administered within the WTO accounting system but 
kept separately from the regular budgetary funds an d identified as Company 3.  The donors receive 
individual year-end statements fo r the relevant funds provided. 
67. The total assets and liabilities amount to CHF 18,714,051.09 and are disclosed in the 
Consolidated Assets and Liabilities as at 31 Dece mber 2006 (Statement 1). The main asset amount 
relates to the WTO General Fund, amounts to CHF 18,159,402.84 and is administered by WTO on behalf of the donors. The amount held to the credit of donors as at 31 December 2006 of CHF 17,333,412.49 contains the excess of income  over expenditure for 2006 amounting to 
CHF 2,469,711.23 and is disclosed in the cons olidated Income and Expenditure Statement 
(Statement 2). 
68. The total expenditures as at 31 December 2006 amount to CHF 25,971,492.30.  The 
expenditures are covered by voluntary contributions, interest earned and overhead fees (lump-sum of 
13 per cent on the total direct costs) of CHF 28,441,203.53. 
Implementation of International Public  Sector Accounting Standards (IPSAS)
 
 69. As recommended by the External Auditor in its 2005 report, the presentation of the Financial 
Statements has been modified. This can be seen as an initial step towards the implementation of 
IPSAS.  However, the External Auditor emphasize s that the implementation of IPSAS in WTO can 
only be tackled for WTO as a whole, comprising WTO, the Appellate Body, the Extra Budgetary 
Funds and the Project OMCII.  
Training programmes 
 
 70. As a general practice, daily subsistence allowan ce (DSA), flight tickets, terminal expenses as 
well as accommodation are provided to participants of training programmes financed through the 
Extra Budgetary Funds (EBF).   
71. The no-show of participants entails costs which have to be borne by EBF, causing a 
considerable additional administrative burden  This is especially true with regard to the refund of 
unused flight tickets which results in considerable costs.   
72. In the course of the year-end audit, the Ex ternal Auditor focused on training programmes 
which last up to six days and are organized by the Logi stics Unit.  The review re vealed that more than 
one third of the purchase value of the unused  flight tickets was not recoverable.  
73. The External Auditor noted that neither the receivable nor the irrecoverable amounts relating 
to unused air tickets are disclosed in the individual donor year-end statements nor in the Director General’s Report on Extra-Budgetary Funds.  
74. The External Auditor recommends: 
• to recognize the purchase value of the flight  tickets of no-show participants as 
receivable against the travel agency;   and 
• to disclose the difference between the pur chase amount and the amounts reimbursed as 
irrecoverable receivable that should be written off. WT/BFA/W/158 
Page 24  
 
  External Strategic Review of WTO-provided TRTA activities
 
75. An external strategic review of WTO-provided trade-related technical assistance (TRTA) 
activities has been performed by a consortium that was selected by the Steering Committee, appointed 
by the Committee on Trade and Develo pment.  The review focused on: 
• WTO's comparative advantage as a provider of TRTA; 
• relevance of its TRTA activities; and 
• its management and efficiency. 
 
76. The cost of the external strategic review amounted to CHF 294,312. 
77. The outcome of this review has been submitte d to the Steering Committee on 21 July 2006 in 
form of a report (WT/COMTD/W/152) and highlights a number of findings, lessons learned and recommendations.   
78. The External Auditor recommends that, if an  action plan does not exist, it should be 
established to address the recommendations raised by the consortium.   
 
   
 
(signed) 
_________________________________________ 
 
Josef Moser 
 
President of the Austrian Court of Audit 
 WT/BFA/W/158 
Page 25  
 
  ANNEX 
 
STATEMENT OF SIGNIFICAN T ACCOUNTING POLICIES 
 
 
1. Financial and accounting records of the trust f unds are maintained in conformity with the 
WTO Financial Rules and Regulations, as adopt ed by the General Council (WT/GC/M/82).  
2. The financial period consists of one calendar year. 
3. Expenditure is accounted for on accrual basis. 
4. The accounts are maintained in Swiss francs.Wh erever applicable, c onversion of currencies 
are made in conformity with WTO practices. 
5. Gains or losses on exchange are added to or deducted from expenditures. 
6. A reserve is maintained for all outstanding ob ligations at the end of the financial year. 
7. Commitments are entered for the entire amount of  outstanding obligations identified as such. 
8. Overhead fees equivalent to 13 per cent of the direct cost of the activity financed with the 
support of the Donor are charged to the trust funds
 in accordance with the decision of the General 
Council reported in WT/GC/M/32. 
9. Interest earned on the Donor's contribution is show n in the financial reports and statements of 
accounts. 
 
 
 
    
  (signed)  (signed) 
  _______________________  ______________________    Pascal Lamy Robert Luther   Director-General Director    Administration and General Services Division 
 
 
__________