The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Boards of Executive Directors submit the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors..

The World Bank Group Internal Auditing Department Annual Report provides the overall opinions of the Auditor General of the World Bank Group (WBG) on governance, risk management and control processes in the World Bank (IBRD/IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) for the year ended June 30, 2008, together with a description of the process followed to arrive at the opinions.