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News from the PSC

News from the PSC. Nanna Schnipper The PSC Secretariat. The International Standards of Supreme Audit Institutions ( ISSAI) - 2010. The fundamental principles of INTOSAI. Founding Principles. ISSAI 1 The Lima Declaration . Prerequisites for the functioning of SAIs.

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News from the PSC

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  1. News from the PSC Nanna Schnipper The PSC Secretariat

  2. The International Standards of Supreme Audit Institutions (ISSAI) - 2010 The fundamental principles of INTOSAI Founding Principles ISSAI 1 The Lima Declaration Prerequisites for the functioning of SAIs ISSAI 10 The Mexico Declaration on SAI Independence ISSAI 20 Principles of Transparency and Accountability ISSAI 30 Code of Ethics ISSAI 40 Quality Control for SAIs Prerequisites for the functioning of SAIs Fundamental Auditing Principles ISSAI 100 Basic Principles ISSAI 200 General Standards ISSAI 300 Field Standards ISSAI 400 Reporting Standards Express the essence of public sectorauditing Auditing guidelines General audit guidelines: ISSAI 1000-2999 Financial Auditing Guidelines ISSAI 3000-3900 Performance Audit Guidelines ISSAI 4000-4999 Compliance Audit Guidelines Specific guidelines: ISSAI 5000-5099 International Institutions ISSAI 5100-5199 EnvironmentalAudit ISSAI 5200-5299 Privatisation ISSAI 5300-5399 IT-audit ISSAI 5400-5499 Audit of Public Debt ISSAI 5500-5599 Audit of Disaster-related Aid ISSAI 5600-5699  Peer Reviews Translates the fundamental auditingprinciplesinto more specific, detailedoperationalguidance

  3. A New Level 3 – Goal A The International Standards of Supreme Audit Institutions (ISSAI) – goal for 2013 Founding Principles ISSAI 1 The Lima Declaration Prerequisites for the functioning of SAIs ISSAI 10 The Mexico Declaration on SAI Independence ISSAI 20 Principles of Transparency and Accountability ISSAI 30 Code of Ethics ISSAI 40 Quality Control for SAIs ISSAI 100 Fundamental principles of public sector auditing ISSAI 200 Fundamental principles of financial auditing ISSAI 300 Fundamental principles of performance auditing ISSAI 400 Fundamental principles of compliance auditing Fundamental Auditing Principles ISSAI 100 Basic Principles ISSAI 200 General Standards ISSAI 300 Field Standards ISSAI 400 Reporting Standards Auditing guidelines General audit guidelines: ISSAI 1000-2999 Financial Auditing Guidelines ISSAI 3000-3900 Performance Audit Guidelines ISSAI 4000-4999 Compliance Audit Guidelines Specific guidelines: ISSAI 5000-5099 International Institutions ISSAI 5100-5199 EnvironmentalAudit ISSAI 5200-5299 Privatisation ISSAI 5300-5399 IT-audit ISSAI 5400-5499 Audit of Public Debt ISSAI 5500-5599 Audit of Disaster-related Aid ISSAI 5600-5699  Peer Reviews

  4. The fundamental auditing principles A credible set of standards thatcanunite INTOSAI A commonlanguage for public sectorauditing

  5. ISSAI 100 – the common elements of public sectorauditing

  6. Making reference to the ISSAIs • The authority of the ISSAIs is defined in ISSAI 100,which also explains what it means to comply with the ISSAIs Two options presented in ISSAI 100

  7. Making reference to the ISSAIs Option 1: • We conducted our audit in accordance with [national standards] based on (or consistent with) the Fundamental Auditing Principles (ISSAI 100-999) of the International Standards of Supreme Audit Institutions.

  8. Making reference to the ISSAIs Option 2: • We conducted our (financial, performance and/or compliance) audit (or audits) in accordance with the International Standards of Supreme Audit Institutions (on financial, performance and/or compliance auditing).

  9. ISSAIs 200, 300 and 400 • Defines the key principles for financial, performance and complianceauditing; • Define best practice; • Can be adopted by the SAIs as authoritative auditing standards if relevant.

  10. Level 4 • Editorial consequences for the auditing guidelines at level 4 (ISSAIs 1000-4999) • The project group has developed a set of drafting conventions to ensure uniform use of concepts and writing style

  11. PSC 2014-2016 Achievements so far… • A complete ISSAI Framework • SAI’suse the ISSAIs as a foundation for their audit work. • INTOSAI’smembers and externalstakeholders have expectations to the ISSAIs’ quality and relevance

  12. PSC 2014-2016 Challenges ahead… • It is essential that INTOSAI strengthens its position as an internationally recognized standard-setter • It is necessary that the PSC has the needed capacity and process to ensure the quality and credibility of the ISSAIs.

  13. PSC 2014-2016 Challenges ahead… • Business as usual may have negative consequences for the qualityof the ISSAI Framework • It takes commitment to be a credible standard-setter.

  14. News from the Chair • MoU with IFAC and IIA is up for renewal • New appointments • Withdrawal of ISSAI GOVs 9200, 9210, 9220 and 9230. • Changes in the Subcommittees

  15. News from the Chair • Establishment of maintenancereviews for all ISSAIs and INTOSAI GOVs  Review of ISSAI 30 Code of Ethicsstartinglate 2013/early 2014  Review of level 4 (1000-4999) starting 2014

  16. Thankyou

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