1. The audit process: assuring the integrity of public spending David Watkins Chair, Accounting and Auditing Standards Panel ICPS Public Accounts Committees International Symposium 2013

2. cipfa.org Agenda  Who is responsible for the integrity of public spending?  The role of the auditor  Standards used in the UK  Best practice

3. cipfa.org Who is responsible?  Individuals  Managers  Leadership

4. cipfa.org The internal auditor  Reports to leadership  Professional qualification  Professional standards, internationally based  Provides opinion on governance processes and procedures  Value for money

5. cipfa.org The external auditor  Reports to external stakeholders and to leadership  Independently appointed  Professional qualification  Professional standards, internationally based  Provides an opinion on the financial statements – the figures and regularity  Exception reporting on governance processes and procedures  Value for money

6. cipfa.org Standards used in the UK  Public Sector Internal Audit Standards  International Federation of Accountants  Code of Ethics for Professional Accountants  International Standards on Auditing, Review, Other Assurance, and Related Services  Financial Reporting Council  Practice Note 10  Audit Commission  Code of Audit Practice – local government  Code of Audit Practice - health

7. cipfa.org Best practice  Risk based  Internal control  Governance arrangements  Public financial management  Financial management maturity