1. May 2010
Intosai PSC Steering Committee
Update on project on Quality Control for SAIs – ISSAI Greg Schollum Project Chair (SAI New Zealand) May 2010
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2. May 2010
Intosai PSC Steering Committee
Purpose of the project
Develop an overall code for quality control within SAIs (ISSAI 40).
Part of level 2 of the ISSAI framework (“Prerequisites for the functioning of SAIs”).
Aiming for endorsement at INCOSAI 2010.

3. May 2010
Intosai PSC Steering Committee
Background
Terms of reference for the project approved by the PSC Steering Committee (October 2008):
“Dual approach” endorsed;
Support for guidance in ISSAI 40 to complement work of FAS, CAS, PAS.

4. Project team Greg Schollum – SAI New Zealand (Project Chair)
May 2010
Intosai PSC Steering Committee
Project team
Greg Schollum – SAI New Zealand (Project Chair)
Andrew Baigent – SAI United Kingdom (representing FAS)
Therese Johnsen – SAI Norway (representing PAS)
John Speed – European Court of Auditors (representing FAS)
A K Thakur/Pradeep Rao – SAI India (representing CAS)
Mary Riopelle – SAI Canada
Dr Josef Moser – SAI Austrian Court of Audit
Michael Nugent – IAASB staff (Observer)

5. May 2010
Intosai PSC Steering Committee
Progress to date
PSC Steering Committee consideration (17-19 June 2009)
Project team meeting (16-17 September 2009)
Project team drafting via teleconference & (September 2009 – January 2010)
Release of ED ISSAI 40 (3 February 2010)
Project team consideration of comments on ED via teleconference (30 April 2010)
PSC Steering Committee consideration (6-7 May 2010)

6. Key messages from the last PSC Steering Committee (17-19 June 2009)
May 2010
Intosai PSC Steering Committee
Key messages from the last PSC Steering Committee (17-19 June 2009)
ISSAI 40 should continue to be developed on the basis of the dual approach (using ISQC 1).
ISSAI 40 should complement, not duplicate ISQC 1.
ISSAI 40 should be designed to help interpret what a system of quality control is within the public sector context.

7. 2 key audiences for ISSAI 40
May 2010
Intosai PSC Steering Committee
2 key audiences for ISSAI 40
Those SAIs who wish to use ISSAI 40 without reference to ISQC 1 and don’t wish to assert compliance with ISQC 1.
Those SAIs who wish to comply with ISQC 1 but need some guidance about how ISQC 1 should be applied in a public sector context.

8. Overview of comments received on ED ISSAI 40
May 2010
Intosai PSC Steering Committee
Overview of comments received on ED ISSAI 40
25 comment letters received to date:
some with no detailed comments;
some with detailed comments.
Overall flavour is “supportive of the ED”.
One SAI suggests we need to redraft the document.

9. May 2010
Intosai PSC Steering Committee
Where to from here?
Project team to consider comments from PSC Steering Committee (May/June 2010).
Project team to continue considering comments on the ED (May/June 2010).
Project team to finalise ISSAI 40 for consideration by PSC Steering Committee (July 2010).
Project team to arrange translation of ISSAI 40 into 5 official languages (August – September 2010).
ISSAI 40 to be considered at INCOSAI (November 2010).

10. Questions / points of clarification
May 2010
Intosai PSC Steering Committee
Questions / points of clarification