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Update on project on Quality Control for SAIs – ISSAI 40 Greg Schollum Project Chair (SAI New Zealand) May 2010. Image here. Purpose of the project. Develop an overall code for quality control within SAIs (ISSAI 40).

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  1. Update on project on Quality Control for SAIs – ISSAI 40 Greg Schollum Project Chair (SAI New Zealand)May 2010 Intosai PSC Steering Committee Image here

  2. Intosai PSC Steering Committee Purpose of the project • Develop an overall code for quality control within SAIs (ISSAI 40). • Part of level 2 of the 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 by the PSC Steering Committee (October 2008): • “Dual approach” endorsed; • Support for guidance in ISSAI 40 to complement work of FAS, CAS, PAS.

  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) • John Speed – European Court of Auditors (representing FAS) • A K Thakur/Pradeep Rao – 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 • PSC Steering Committee consideration (17-19 June 2009) • Project team meeting (16-17 September 2009) • Project team drafting via teleconference & email (September 2009 – January 2010) • Release of ED ISSAI 40 (3 February 2010) • Project team consideration of comments on ED via teleconference (30 April 2010) • PSC Steering Committee consideration (6-7 May 2010)

  6. Intosai PSC Steering Committee Key messages from the last PSC Steering Committee (17-19 June 2009) • ISSAI 40 should continue to be developed on the basis of the dual approach (using ISQC 1). • ISSAI 40 should complement, not duplicate ISQC 1. • ISSAI 40 should be designed to help interpret what a system of quality control is within the public sector context.

  7. Intosai PSC Steering Committee 2 key audiences for ISSAI 40 • Those SAIs who wish to use ISSAI 40 without reference to ISQC 1 and don’t wish to assert compliance with ISQC 1. • Those SAIs who wish to comply with ISQC 1 but need some guidance about how ISQC 1 should be applied in a public sector context.

  8. Intosai PSC Steering Committee Overview of comments received on ED ISSAI 40 • 25 comment letters received to date: • some with no detailed comments; • some with detailed comments. • Overall flavour is “supportive of the ED”. • One SAI suggests we need to redraft the document.

  9. Intosai PSC Steering Committee Where to from here? • Project team to consider comments from PSC Steering Committee (May/June 2010). • Project team to continue considering comments on the ED (May/June 2010). • Project team to finalise ISSAI 40 for consideration by PSC Steering Committee (July 2010). • Project team to arrange translation of ISSAI 40 into 5 official languages (August – September 2010). • ISSAI 40 to be considered at INCOSAI (November 2010).

  10. Intosai PSC Steering Committee Questions / points of clarification

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