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Update on project on audit quality control - ISSAI 40 Greg Schollum Project Chair (SAI New Zealand) June 2009. Image here. Purpose of the project. Develop overall code for audit quality within SAIs (ISSAI 40).

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  1. Update on project on audit quality control- ISSAI 40 Greg Schollum Project Chair (SAI New Zealand)June 2009 Intosai PSC Steering Committee Image here

  2. Intosai PSC Steering Committee Purpose of the project • Develop overall code for audit quality within SAIs (ISSAI 40). • Part of level 2 of ISSAI framework (“prerequisites for the functioning of SAIs”). • Aiming for endorsement at INCOSAI 2010.

  3. Intosai PSC Steering Committee Background • Terms of reference for the project approved in Beijing (October 2008): • “Dual approach” endorsed; • Support for guidance in ISSAI 40 to complement work of FAS, CAS, PAS; • Suggested additions to project team, including observer from IAASB staff.

  4. Intosai PSC Steering Committee Project team • Greg Schollum – SAI New Zealand (Project Chair) • Andrew Baigent – SAI United Kingdom (representing FAS) • Therese Johnsen – SAI Norway (representing PAS) • Jesús Lázaro Cuenca – European Court of Auditors (representing FAS) • A K Thakur – SAI India (representing CAS) • Mary Riopelle – SAI Canada • Dr Josef Moser – SAI Austrian Court of Audit • Michael Nugent – IAASB staff (Observer)

  5. Intosai PSC Steering Committee Progress to date • Draft ISSAI 40 prepared. • Currently based on ‘companion’ approach. • Project team meeting planned for September 2009 in London.

  6. Intosai PSC Steering Committee Issues on which the views of the PSC Steering Committee are sought • ‘Companion’ or ‘integrated’ approach? • Overlap with part 1 of ISSAI 200: • Potential withdrawal of ISSAI 200 in due course? • Any comments on the material within ISSAI 40?

  7. Intosai PSC Steering Committee Questions / points of clarification

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