The social development bank in Europe

Governing Board appoints new Auditing Board member

7 Apr 2017

PARIS - The Governing Board of the Council of Europe Development Bank (CEB) today appointed Ms Szilvia Sramkó, a Hungarian national, as a new member of the CEB’s Auditing Board for a three-year period.

According to the rota adopted by the Governing Board in 2012, the three-member Auditing Board for 2017 will comprise one member from Hungary to replace the outgoing member from Croatia. The other two members currently serving on the Auditing Board are Mr Toomas Vapper from Estonia and Mr Viktor Gjorchev from “the former Yugoslav Republic of Macedonia” and from Estonia.

The Auditing Board checks the accuracy of the annual accounts, after they have been examined by an external auditor.

Having previously invited Hungary to present its candidates, and taking into account the Administrative Council’s opinion on the candidates, the Governing Board appointed Ms Szilvia Sramkó as an ordinary member of the Auditing Board and Mr Krisztian Tolnai, also a Hungarian national, as a substitute.

Ms Sramkó is currently serving as Deputy Head of the Department of Auditors’ Public Oversight in Hungary’s Ministry for National Economy, where she has previously also worked as Head of Unit. She has served as Hungary’s seconded national expert/policy officer in the Unit of Audit and Credit Rating Agencies at the European Commission and as Legal Officer in the Department of Accounting and Oversight in the Ministry for National Economy of Hungary. She holds an LLD from Eötvös Lóránd Science University in Budapest, and a Master of Comparative Law from Université Paris II Panthéon-Assas.

Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook stable and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.

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