CIPFA/IMFO Development Programme for Internal Auditors IMFO Indaba April 2015 Durban Dr Adrian Pulham Executive Director CIPFA

CIPFA, an introduction Professional body for public sector accountants and auditors PSIA standard setter in the UK Provides certification for members in public audit bodies around the world Founder member of IFAC Working closely with IIA Working closely with INTOSAI

Effective PSIA – key components

CIPFA’s Advocacy Strategy Strategic Theme 4 Development partners include PSIA in PFM capacity building projects Strategic Theme 1 Appropriate PSIA standards Strategic Theme 2 The value of PSIA recognised, respected and required Strategic Theme 3 PSIA essential to PFM reform

Code of Practice for PSIA Scope of PSIA Independence Ethics Audit planning Performance

Enhanced Systems Based PSIA Internal control COSO based Systems testing

Procurement Audit Holistic approach Risk based Contract audit Fraud audit VFM audit Best practice

Auditing Standards Based on the International Auditing and Assurance Standards Board guidance and standards

Audit Committees Often required by law Enhance public trust Independent Central part of good governance

Internal Audit manual Framework for the HIA Revised standards Written by practitioners Students and new staff

Member Support CIPFA Audit Panel Role of the Chief Internal Auditor Consulting the profession

Conclusion Effective PSIA requires –Standards –Professional internal auditors –Greater capacity –Professional support and development

Level 1, the Certificate Internal Audit Fundamentals Public Sector Accounting and Financial Reporting Governance and Control

Level 2, the Diploma Advanced Internal Auditing Auditing Management Performance Managing the Internal Audit Function

Benefits to you Professional recognition CIPFA Affiliate Membership Publications Audit panel involvement CPD Branch Activities Management Direct Further partnership working with IMFO