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Co-operation in Implementing Internal and External Audit in the Republic of Moldova

Co-operation in Implementing Internal and External Audit in the Republic of Moldova. Gh. Cojocari Court of Accounts (CoA) Chisinau , 20-22 June 2007. Present challenges with the PFIC system. A well-defined legal framework is missing Resources for reform program are insufficient

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Co-operation in Implementing Internal and External Audit in the Republic of Moldova

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  1. Co-operation in Implementing Internal and External Audit in the Republic of Moldova Gh. Cojocari Court of Accounts (CoA) Chisinau, 20-22 June 2007

  2. Present challenges with the PFIC system • A well-defined legal framework is missing • Resources for reform program are insufficient • Staff is not prepared for reform process • Understanding of the need for reform from inspection to audit is poor • An integrated financial management information system does not exist

  3. Role of CoAin the PIFC system • To contribute to the development of an accountability system in public administration • To close the accountability circle in the public sector • To provide oversight over the implementation of PIFC system • To co-operate and dialogue with the MoF to achieve an efficient management system of state budget resources • To prioritize, plan and carry out audits so that they have an impact on the successful implementation of the agreements between the Government and the EU.

  4. Co-operation between CHU and CoA CHU and CoA have joint interests. The co-operation is built on: • Mutual willingness and commitment • Confidence • Consultation • Communication

  5. Areas of Co-operation • Development of the normative and methodological framework • Train trainers • Joint training of staff • Establishment of an integrated information system • Share experience and information • Develop control programs

  6. Benefits of Co-operation • Mutual support for reform of internal and external audit • A reduced audit burden • A better informed dialogue on the risks facing government institutions leading to more effective focusing of audit effort and consequently to more useful advice to management • Better coordination of internal and external audit activity through the planning process • A better understanding of the results of IA and EA work which influences each others future work plans and programs • The opportunity for each party to draw on a wider and more flexible skills base • Provision of a better quality of public service

  7. Structure of Audit • The entire system of internal control, internal audit, and external audit of the public sector is efficient and effective. • Good audit - higher responsibility – more efficient management of public finances.

  8. Long-term Vision All public internal control systems are so effective that the external auditor can increasingly rely on them

  9. Questions to Participants • To what extent have SAIs in other countries been able to place reliance on the work of internal auditors? • Should SAIs assess the quality of the work of internal auditors? If so what approach should they take in conducting this assessment.

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