External Reviews & Effectiveness Assessments
External reviews of CAO’s work have been conducted periodically by independent experts to assess our effectiveness and enhance our processes.
External Reviews
External reviews of CAO’s work have been conducted periodically by independent experts to assess our effectiveness and enhance our processes. CAO also conducts periodic self-assessments to evaluate its effectiveness and support continuous improvement.
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External Reviews
2026 Targeted Review of the CAO Policy
In 2026, the Boards of IFC and MIGA commissioned a Targeted Review of the IFC/MIGA Independent Accountability Mechanism (CAO) Policy, in line with the requirement to review the Policy within five years of going into effect (July 1, 2021). The review focuses on five key areas: Financial Intermediary (FI) eligibility criteria; referrals and deferrals of complaints to IFC/MIGA; IFC/MIGA participation in Dispute Resolution; Management Action Plans (MAPs); and timelines. It assesses the effectiveness of these elements in supporting accountability and environmental and social outcomes, drawing on case analysis and stakeholder consultations, and will inform potential Policy adjustments by the Boards.Learn more about 2026 Targeted Review Process
2020 External Review
In 2019, the Boards of IFC and MIGA initiated an External Review of IFC and MIGA’s Environmental and Social Accountability, including CAO’s role and effectiveness, which concluded in 2020. The review examined the respective roles of the Board, management, and CAO, including the governance and effectiveness of CAO’s three functions (Dispute Resolution, Compliance, and Advisory); the role of IFC and MIGA and their clients in identifying, mitigating, and responding to concerns regarding adverse environmental and social impacts of the business activities they finance or insure; and the oversight function of the Board.
Learn more about the 2020 External Review Process
Past Reviews
Since its establishment in 1999, CAO has commissioned three independent external reviews to assess its effectiveness, identify strengths and areas for improvement, and evaluate how well it delivers on its dispute resolution, compliance, and advisory mandates. These reviews were conducted by independent experts with input from a wide range of stakeholders and have informed improvements to CAO’s work and processes:
Summary:
Summary of CAO's Three External Effectiveness Reviews - May, 2012.
Full Reports:
Internal Review of CAO Terms of Reference, Operational Guidance and Operational Practices - October, 2010.
A Retrospective Analysis of CAO Interventions Trends, Outcomes and Effectiveness - May, 2006.
Beyond Compliance? An External Review Team Report on the Compliance Advisor Ombudsman Office of IFC and MIGA - July, 2003
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CAO Self Assessment Report
In FY22, CAO utilized the self-assessment tool from the Office of the United Nations High Commissioner for Human Rights (OHCHR) "Remedy in Development Finance" report to evaluate its effectiveness against a series of indicators based on the UN Guiding Principles on Business and Human Rights. This tool helps CAO assess its effectiveness and serves as a benchmark as its procedures evolve under the CAO Policy implemented in July 2021.
CAO used a qualitative approach for this assessment and, in FY23, aimed to enhance data collection on stakeholder perceptions and engagements with IFC and MIGA. The FY24 update of the self-assessment demonstrates a greater level of alignment with OHCHR standards, thanks to the introduction of conflict-of-interest procedures to guide staff recruitment and mobility, as well as an independent review of CAO’s approach to managing threats and reprisals.