INTOSAI Financial Audit Guidelines (ISSAI 1000-2999) Presentation by [name and title] [Date and place]

Why has INTOSAI developed ISSAIs for Financial Audit? Need for detailed standards and guidance Cooperation with IFAC and IAASB ISAs are globally accepted Increased quality, confidence and credibility

What are the ISSAIs for Financial Audit? ISA International Standard on Auditing Practice Note

ISSAI hierarchy Level Subject ISSAI No 1: Founding Principles Lima Declaration 1 2: Prerequisites for functioning of SAIs Independence Transparency and Accountability Ethics, Quality 10-40 3: Fundamental Auditing Principles General-, Field-, and Reporting Standards 100-400 4: Auditing Guidelines Financial Audit Guidelines Performance Audit Guidelines Compliance Audit Guidelines 1000-2999 3000-3999 4000-4999

Invaluable international involvement

ISAs – Content and Structure Introduction Scope of this ISA Subject matter Effective date Objective(s) Definition Requirements Application and other explanatory material

PNs – Content and Structure Background Introduction to the ISA Content of the Practice Note Applicability of the ISA in public sector auditing Additional guidance on public sector issues

Reference to authoritative standards ISSAIs for Financial Audit ISAs INTOSAI Fundamental Principles Other relevant standards

ISSAI Content Specialized areas Audit conclusions and reporting General principles and responsibilities Using the work of others Risk assessment and responses to assessed risks Audit evidence

Communication Objectives Risk Assessment Some General Issues in Audits of Public Sector Entities Consideration of Laws and Regulations Materiality Identifying Fraud and Error

How can the ISSAIs on Financial Audit be implemented in the national context? Initial assessment: Implementation options Requirements in national context Current audit environment Resources needed Implementation process Cooperation options

The INTOSAI Financial Audit Guidelines Give confidence and in our work as auditors credibility Provide the basis for high audits quality Are the basis for the in our operations professionalism