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Maintenance of the ISSAI 4000 series

Maintenance of the ISSAI 4000 series. CAS meeting , Batumi , Georgia 27th-28th of September 2011. Group discussion. What are your experiences and lessons learned from the implementation of the ISSAI 4000 series so far?

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Maintenance of the ISSAI 4000 series

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  1. Maintenanceofthe ISSAI 4000 series CAS meeting, Batumi, Georgia 27th-28th of September 2011

  2. Group discussion • Whatareyourexperiences and lessonslearned from theimplementationofthe ISSAI 4000 series so far? • Are therespecificmaintenanceissuesthatarise from yourimplementationexperiences?

  3. Broadconcepts SAFEGUARD OF RESOURCES THE GENERAL STATE ACCOUNTS SUBJECT MATTER UNDERLYING TRANSACTIONS OF THE BUDGET

  4. Group discussion summing up - Jens • Applicationmateral: risk assessment & materiality • How to relyonthework of otherauditors • Conclusion form – consequences • Pervasiveness (newconclusion form – whatdoes it mean) • Awarenessamong stakeholders • Reliability of statistics

  5. Group discussion summing up - Erna • Sampling • Pervasivness • Opinions vs. concusions – make use of thedifferent types • Combinations of audit types • Case studies and examples • Subject matter • Qualifications of auditors/resurces

  6. Group discussion summing up - Mona A new standard for planning? Materiality: • Amount • Nature • Context • Time (prescription)

  7. Maintenanceissuesidentified at CAS meeting in Stockholm 2009 • Materiality (China, Georgia, Lithuania) • Pervasiveness (ECA) • Sampling (India, ECA) • Limited vs. reasonable assurance (Brazil) • Need for application material (Slovakia, Tunisia • Opinion – positive vs negative report (China, Denmark, Namibia, Romania, Norway) • How to set up a monitoring system (Tunisia) • Unlawful acts/fraud/corruption (Mexico) • Prescription vs. liability (Romania)

  8. Paper • End of January!!

  9. Sourcesinfluencingthemaintenanceofthe ISSAI 4000 series • The work of the harmonization project • Professional development conducted by other standard setting bodies • Development projects within the compliance audit subcommittee

  10. Proposedmaintenancefrequency 5 years

  11. Consequences: 2013: CAS willestablish a workinggroupconsideringtheamountsofchangesneeded in the ISSAI 4000 series.

  12. Maintenanceissues to start workingonnow • Which? • How? • Who?

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