1. Performance Audit Subcommittee Project for ISSAI Level 4 review 66th INTOSAI Governing Board Meeting Vienna, November 5-7, 2014

2. Collaboration PAS-CAS-FAS
The review of level 4 highlighted the need for increased coordination among the subcommittees.
A common FAS/PAS/CAS collaboration document was prepared and presented to the PSC SC in Manama. It highlighted:
Agreed points concerning level 4 review
Measures addressing the need for consistency in the ISSAI framework
Measures addressing the need for a standard setting process connected with implementation issues

3. Collaboration PAS-CAS-FAS
Agreed points concerning level 4 Review:
The need for interpretation guidance (how to interpret and apply the standards at a more operational level).
In a sustainable future, level 4 could have a common structure of types of documents containing both authoritative standards and interpretation guidance.
The subcommittees plan to develop a common system of cross-references, in order for a SAI to easily detect where and how ISSAIs differ in prescriptions of audit process.

4. ISSAI Level 4 (PA) - today
ISSAI 3000 – Implementation Guidelines for Performance Auditing (2004): presents requirements on PA followed by guidance
ISSAI 3100 – Performance Audit Guidelines: key principles (2010): outlines a common understanding of what defines high quality work in PA
- Annex to ISSAI 3100: sets out the benefits of introducing PA in an SAI, together with key issues to consider when introducing/maintaining PA

5. Review of Level 4 (PA) – Objectives
Adapt level 4 of ISSAIs to the recently approved ISSAI 100 and ISSAI 300, by ensuring that the PA standard and PA guidelines are fully consistent with the principles in both standards.
Provide SAIs with updated guidelines for audits of economy, efficiency and effectiveness based on these principles.

6. Review of Level 4 (PA) – References
Primarily, ISSAIs 100 and 300
Existing PA guidelines (existing ISSAIs 3000 and 3100)
PAS five practice papers
(Consideration to) comments received during the draft of ISSAI 300 exposure process
Other ISSAIs, as ISSAI 1003 – Glossary to financial audit guidelines
Documents issued by recognized standard setters

7. Review of Level 4 (PA) – Expected outcomes
New ISSAI 3000, the International Standard for Performance Auditing: requirements for the practice of PA, followed by explanations in order to enhance clarity of the standard
New ISSAI 3100 – central concepts for performance audits.
New ISSAI 3200 – guidelines for the PA process (planning, conducting and reporting)
The possibility of developing guidelines on additional matters is not excluded. This, however, would be the object of another Project.

8. Review of Level 4 (PA) – Stage of the Project
Project phases completed:
Draft of the new ISSAI 3000 completed and submitted to two rounds of internal hearing in PAS
A new structure and organization for level 4 regarding PA
Project phases in progress:
Writing of new ISSAI 3100 and 3200, to be posted on PAS Community of Practice for internal hearing.
Second internal hearing of ISSAI 3000

9. Summary of the future ISSAI level 4 (PA)
ISSAI a concise document, which comprises all requirements for PA auditors
ISSAI 3100 – a detailed document, which explains central concepts for PA
ISSAI 3200 – a detailed document, which explains how to conduct the PA process
ISSAIs – further topics, as the sustainability of PA function, currently in the appendix of ISSAI 3300
Requirements, definitions and guidelines are in distinct documents
Level 4 has a dual nature of authoritative professional standard and guideline

10. Review of Level 4 (PA) – Timetable
2014
November 28
Drafts of ISSAI 3100 and 3200 are posted on PAS Community of Practice (Moodle) for comments from PAS members
December 16
PAS Secretariat sends drafts of ISSAI 3000, 3100 and 3200 to PSC

11. Review of Level 4 (PA) – Timetable
2015
January 23
PAS members send comments on drafts of ISSAI 3100 and 3200 on Moodle (deadline)
February 13
PAS responsible groups post final versions of ISSAI 3100 and 3200 on Moodle
PAS members send suggestions for adjustment in ISSAI 3000 (deadline)
February 27
PSC Secretariat sends feedback on the draft ISSAIs from CAS and PAS
March 6
PAS Secretariat posts final version of draft ISSAI 3000, after final comments from PAS members
March 24-25
PAS Meeting, in New Delhi

12. Review of Level 4 (PA) – Timetable
2015
April 30
PAS Secretariat sends exposure drafts to the PSC Secretariat
June (date to be settled)
PSC SC approves exposure drafts
September-November
Exposure drafts posted on for comments from Intosai members
Dec 2015/ Feb 2016
Processing of comments by PAS responsible groups

13. Review of Level 4 (PA) – Timetable
2016
December 2015/ February 2016
Processing of comments by the PAS responsible groups
March 31
PAS Secretariat sends endorsement versions to the PSC Secretariat
May (date to be settled)
PSC SC approves endorsement versions
October or November/2016
Intosai Governing Board approves endorsement versions at INCOSAI 2016, in Abu Dhabi

14. Thank you.