1. Audit

2. Types Scheduled Audits Programmatic Assurance >Field Monitoring, Annual Reviews Reviews of Partners Financial Records > Spot Checks > Special Audits

3. Relevant Technical Notes 1. Terms of reference for conducting an audit 2. Terms of reference for conducting spot checks 3. Assessment of firms 4. Working with SAIs

4. Definition of Audit What it is and what it isnt Comparison with traditional financial audit

5. Scheduled Audits Components – Update of the micro assessment – Recommendations for improvement – Detailed testing of a sample of transactions Must be done jointly where work with the same partner

6. Spot Checks Definition of spot check What it replaces Who does it Coordination and sharing of results

7. Special Audits Terms of reference Coordination and sharing of results

8. Programme Monitoring Definition Relationship to audits and spot checks Who does it Coordination and sharing of results

9. Assessment of the Firm Prequalification Request for Proposal to qualified firms Who does it

10. Working with SAIs CPAP clause Funding

11. Questions? Role of internal audit? Who does the contracting? Improving the effectiveness of the audits?