Cost oftotal value Cost oftotal value Bonds(UnitedStates $) 679763 22.3 674867 666488 19.4 684311 Stocksandconvertible bOnds 851984 27.9 11179781017864 29.6 1254527 (unitedStates $) Bonds(Othercurrencies) 592917 19.4 53695tJ 738817 21.5 625835 I StOCkSandconvertible bonds 556323 18.3 793828 538768 15.7 642 779;:-(Othercurrencies) --3 I Realestateand related securities 264486 8.7 292600 346298 10.1 391920 (UnitedStatesand othercurrencies) Temporary investments J.02342 3.4 102579 112911 3.3 113530 (UnitedStates $) Temporary investments (Othercurrencies) 1081- 1081 15702 0.4 14545 TOtalportfolio 3048896100.0 35198913436848100.0 372744738669 9745588203 9826293512504142 144615 287949181139180052 116937 19424993.55000.924019.8800 173.3500K9079.25SCHEDULE 4 -48-P768750.00 f.345965.60Exchange rate ineffectasat Localcurrency 31December 1984 DM277000.00 3.1405 $M1221284.09 2.4225 $Mex40331685.33 224.0000 $US116937.00 1.0000 $S638095.00 2.1740 SwF469.150.77 2.5900 £124296.43 0.8595 Ptas49915901.53 TotalamountoutstandingMalaysia Mexico United Kingdom of GreatBritain andNorthern Ireland NetherlandsGermany, Federal Republic of Philippines SpainPapuaNewGuineaSingapore Switzerland• F ~ iLSfii!_...... _I!NiIli!__... '!!l!!I!!I ~. ANNEXIII ReportoftheBoardofAuditors totheGeneral Assembly onthe accounts oftheunitedNations JointStaffPension Fundfor theyearended31December 1984 Introduction 1.Inaccordance witharticle 14oftheRegUlations oftheUnitedNations Joint StaffPension ~und(UNJSPF), theBoardofAuditors hasaudited theaccounts ofthe Fundfortheyearended31December 1984. 2.Theexamination wasmadeinaccordance witharticle XIIoftheFinancial RegUlations oftheUnitedNations andtheannexthereto andwiththecommon auditing standards adopted bythePanelof'External Auditors oftheUni~edNations, thespecialized agencies andtheInternational AtomicEnergyAgency. Our examination wasconducted atthesecretariat ofthePension BoardandtheOfficeof Financial Services oftheUnitedNations inNewYork. 3.Duringtheyearunderreview, theBoardofAuditors continued itspractice of reporting theresults ofspecific auditsandi••uingmanagement letters containing detailed observations andrecommendations totheAdministration. Thispractice has helpedgreatly inmaintaining acontinuing dialogue withtheAdministration. 4.Thefollowing arethemostsignificant matters arising fromourexamination. Wehavediscussed thesematters withtheAdministration, whoseresponses are incorporated inthisreportwhereappropriate. TheBoardhasnotedwith appreciation thespeedwithwhichtheAdministration hasdealtwiththematters brought toitsattentiQn andtheeffortsithasmadetoimprove financial management andcontrol systems. Ourrecommendations areintended toassistthe Administra~ion inseeking andimplementing further improvements inthesesystems. Summary offindings 5.Ouranalysis oftheinvestments andrelated accounts disclosed anumberof financial transactions thatwereawaiting finalsettlement atthetimeofthe Fund'sregular year-end closing. However, thesetransactions werecleared priorto thecompletion oftheauditon15May1985andtheadjustments havebeenreflected inthe1984accounts. Ourfindings disclosed anetunderstatement of$5,033,474.28 intheinvestments, incomeandotherrelated accounts. Wealsonotedtheabsence ofanaudittrailtoindicate thatthebasisusedbythecustodian inthe computation ofthebilledcustodial feeswacverified against independent sources ofinformation. 6.Ourreviawofthecontributions andbenefit entitlements accounts andthe related systems revealed thattheendingbalance oftheparticipants' account was $224,949.89 higherthanthecorresponding balance intheparticipants' master record. Weobserved thatoverpayments orunderpayments ofpension payroll benefits
**Analysis**
The text appears to be related to the financial management and investments of the United Nations Joint Staff Pension Fund. It discusses the valuation of bonds, stocks, and other securities, as well as the exchange rates and audit findings. The content is focused on the financial aspects of the pension fund, without any mention of specific development projects, natural resources, or environmental issues.

**Category**
Economy, Industry