What is required for the annual financial review of the Commission?

The requirement for the annual financial review of the Commission is fulfilled through an independent audit by a certified public accountant. This is important because having an independent auditor ensures objectivity and transparency in the financial review process. A certified public accountant is knowledgeable about accounting principles and standards and can provide a thorough examination of the Commission's financial statements, ensuring that they are accurate and in compliance with relevant laws and regulations.

This level of independent scrutiny helps maintain public trust in the financial operations of the Commission, as stakeholders can be confident that the financial data has been assessed by a qualified professional who is not associated with the organization being reviewed. Such an audit contributes to accountability and is a standard best practice for organizations that manage public funds.

The other options do not fulfill the requirement as effectively. Oversight by a board member lacks the objectivity and financial auditing expertise that an independent auditor provides. A review by state representatives might involve stakeholders but does not ensure the rigorous financial scrutiny that an independent audit entails. Approval from member states could be a governance step but does not equate to a thorough financial assessment like that conducted by an external professional.