PSC INTOSAI Professional Standards Committee Raising awareness of the ISSAIs and INTOSAI GOVs Presentation by (name and title) (venue and date) 1

The Professional Standards Committee (PSC) structure and tasks PSC INTOSAI Professional Standards Committee Content INTOSAI ISSAI framework Implementation

PSC INTOSAI Professional Standards Committee 3

PSC INTOSAI Professional Standards Committee INTOSAI - -Regional Working Groups OLACEFS OLACEFS Organization of Latin American and Caribbean Supreme Audit Institutions (1965) AFROSAIAFROSAI African Organization of Supreme Audit Institutions (1976) ARABOSAIARABOSAI Arab Organization of Supreme Audit Institutions (1976) ASOSAIASOSAI Asian Organization of Supreme Audit Institutions (1978) PASAIPASAI Pacific Association of Supreme Audit Institutions (1987) CAROSAICAROSAI Caribbean Organization of Supreme Audit Institutions (1988) EUROSAIEUROSAI European Organization of Supreme Audit Institutions (1990) 4

PSC INTOSAI Professional Standards Committee INTOSAI Strategic Plan The establishment of the ISSAI framework and the adoption of International Standards of Supreme Audit Institutions (ISSAI) and INTOSAI Guidance for Good Governance (INTOSAI GOV) The implementation of the ISSAI framework is a demanding task that will require attention on global, regional and country level. 5

PSC INTOSAI Professional Standards Committee The South Africa Declaration XX INCOSAI resolves to call upon its members and other interested parties to: Use the ISSAI framework as a common frame of reference for public sector auditing; Measure their own performance and auditing guidance against the ISSAIs; Implement the ISSAIs in accordance with their mandate and national legislation and regulations; Raise the awareness of the ISSAIs and INTOSAI GOVs globally, regionally and at the national level; Share experience, good practice and challenges in implementing the ISSAIs and INTOSAI GOVs with those responsible for developing and revising the ISSAIs and INTOSAI GOVs. 6

The Professional Standards Committee (PSC) structure and tasks PSC INTOSAI Professional Standards Committee Content INTOSAI ISSAI framework Implementation

PSC INTOSAI Professional Standards Committee Professional Standards Committee (PSC) 8 Objectives Promote strong, independent and multi-disciplinary SAIs by: encouraging SAIs to lead by excample contributing to the development and adoption of appropriate and effective professional standards Partners The PSC is working together with other international, recognized standard-setting bodies: The International Federation of Accountants (IFAC) The Institute of Internal Auditors (IIA)

PSC INTOSAI Professional Standards Committee Professional Standards Committee (PSC) organisation 9 Project on Transparency and Accountability Chair: France Project on Transparency and Accountability Chair: France Financial Audit Subcommittee Chair: Sweden Financial Audit Subcommittee Chair: Sweden Performance Audit Subcommittee Chair: Brazil Performance Audit Subcommittee Chair: Brazil Compliance Audit Subcommittee Chair: Norway Compliance Audit Subcommittee Chair: Norway Internal Control Standards Subcommittee Chair: Poland Internal Control Standards Subcommittee Chair: Poland Accounting and Reporting Subcommittee Chair: Canada Accounting and Reporting Subcommittee Chair: Canada PSC Chair: Denmark PSC Secretariat Chair: Denmark Harmonisation Project Harmonisation Project Awareness- Raising Task Force Awareness- Raising Task Force Project on Audit Quality Control Chair: New Zealand Project on Audit Quality Control Chair: New Zealand

PSC INTOSAI Professional Standards Committee Content INTOSAI ISSAI framework Implementation The Professional Standards Committee (PSC) structure and tasks

PSC INTOSAI Professional Standards Committee What is the objective of the ISSAI framework? 11

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (1) Level 1 - Founding Principles ISSAI 1 The Lima Declaration 12

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (2) Level 2 - Prerequisites for the Functioning of SAIs ISSAI 10 The Mexico Declaration on SAI Independence ISSAI 11 Guidelines and Good Practices related to SAI Independence ISSAI 20 Principles of Transparency and Accountability ISSAI 21 Principles of Transparency and Accountablity – Good Practices ISSAI 30 Code of Ethics ISSAI 40 Quality Control for SAIs 13

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (3) Level 3 - Fundamental Auditing Principles ISSAI 100 Basic Principles ISSAI 200 General Standards ISSAI 300 Field Standards ISSAI 400 Reporting Standards 14

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (4) Level 4 - Auditing Guidelines Implementation guidelines: ISSAI 1000–2999 Financial Audit Guidelines ( including guidelines based on International Standards on Auditing ) ISSAI Performance Audit Guidelines ISSAI Compliance Audit Guidelines 15

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (4) Level 4 - Auditing Guidelines Specific guidelines: ISSAI International Institutions ISSAI Environmental Audit ISSAI Privatisation ISSAI IT-audit ISSAI Audit of Public Debt ISSAI Audit of Disaster-related Aid ISSAI Peer Review Guidelines 16

PSC INTOSAI Professional Standards Committee Overview of the ISSAI framework (6) INTOSAI GOV - Guidance for Good Governance INTOSAI GOV Internal Control Standards INTOSAI GOV Accounting and Reporting Standards 17

PSC INTOSAI Professional Standards Committee ISSAIs add value to the work of SAIs Adherence to the ISSAIs promotes transparency in the public sector and adds Credibility to our work as auditors; improves the effectiveness and efficiency of the work of SAIs and provide the basis for high Quality audits; increases the perceived level of Professionalism of SAIs. 18

The Professional Standards Committee (PSC) structure and tasks PSC INTOSAI Professional Standards Committee Content INTOSAI ISSAI framework Implementation

PSC INTOSAI Professional Standards Committee Adoption and Implementation Responsibility of all INTOSAI members to help establish the ISSAI framework as a common frame of reference for public sector auditing Two important aspects to address: – adoption – implementation 20

PSC INTOSAI Professional Standards Committee Adoption Aspects to be considered by top management: mandate and requirements in a national context; what implications will an implemenation have on the specific SAI; current audit environment; the need for carrying out Gap Analyses and Risk Assesment; peer review; necessary steps before final decision on implementation; resources needed – in-house/external. 21

PSC INTOSAI Professional Standards Committee Implementation Consider the SAI’s ISSAI implementation options: – as authoritative standards; – as guidance; – to support other standards; – compliance audit as part of financial audit or as stand- alone audit. 22

PSC INTOSAI Professional Standards Committee Implementation Consider: in-house implementation; IDI/Regional implementation; SAI-to-SAI implementation support; use of other donors and service providers; full package vs. gradual implementation; work out implementation guides; stakeholders in implementation (in-house and external); need for specific guidelines on a lower level. 23

PSC INTOSAI Professional Standards Committee Implementation steps 24 Awareness Sustaining results Applying Learning Priority needs

PSC INTOSAI Professional Standards Committee Implementation 25 Long term process Methodology Operational Be realistic

PSC INTOSAI Professional Standards Committee Official website providing access to all ISSAIs and INTOSAI GOVs Free Update Service providing info on latest developments in the ISSAI framework 26

PSC INTOSAI Professional Standards Committee Questions 27