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Harmonization project

Harmonization project. The long and winding road to level 3…. Where did we start. CAS’ contribution to the developmentof public sector auditing. What did we achieve. A conceptual and professional basis for public sector auditing.

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Harmonization project

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  1. Harmonizationproject The long and windingroad to level 3…

  2. Wheredidwe start

  3. CAS’ contribution to thedevelopmentofpublicsectorauditing

  4. Whatdidweachieve

  5. A conceptual and professional basis for publicsectorauditing

  6. Public sectorauditing telling itsown story

  7. The story ofpublicsectorauditing • Sets outfrom mandates • A part ofnationaldemocratic systems • Contributesto transparency, accountability, goodgovernance and effectiveness in thepublicsector

  8. ISSAI 100/400 – elements Authorities and criteria Subject matter The threeparties Assurance

  9. ISSAI 100/400:Types ofengagements Attestationengagements Direct reportingengagements It is the auditor who measures or evaluates the subject matter against criteria. The auditor selects the subject matter and criteria, taking into consideration risk and materiality. The outcome of measuring the subject matter against the criteria is presented in the audit report in the form of findings, conclusions, recommendations or an opinion. It is the responsible party who measures the subject matter against criteria and presents the subject matter information, on which the auditor gathers sufficient and appropriate audit evidence to provide a reasonable basis for expressing a conclusion.

  10. ISSAI 100/400: Assurance The userswish to be confidentaboutthereliability and relevanceofinformation used as basis for theirdecisions. Can be achieved in: 1. Different forms: through opinions and conclusionswhichexplicitlyconveythelevelofassurance or in other forms 2. Different levels: reasonable and limitedassurance

  11. Audit types differ in: objectives, types ofengagements and waysof providing assurance

  12. Compliance – the bridge is still there • Both: • Direct reporting and attestationengagements • Limited and reasonableassurance • Opinions and conclusions

  13. Harmonization – levelsofISSAIs

  14. Harmonization: Consequencesfor SAIs The principles can be used to establish authoritative standards in three ways: • as a basis on which SAIs can develop standards; • as a basis for the adoption of consistent national standards; • as a basis for adoption of the General Auditing Guidelines as standards. What standards the audits are based on is to be stated publicly by the SAI.

  15. Harmonization:Consequences for CAS Maintenanceof ISSAI 4000 series: • Consistency in terminology, structure and contentswithlevel 3 • Distinguishclearlybetweenrequirements and guidance • «Should» in ISSAI 400 is to become «shall» in the ISSAI 4000 series

  16. Harmonization:Paving ourway forward

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