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Professional Standards

Professional Standards

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Professional Standards

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  1. Professional Standards Presentation by: Bettina Jakobsen, Chair of the PSC, Assistant Auditor General of SAI Denmark The Exchange Abu Dhabi 13 – 15 May 2013 PSC INTOSAI Professional Standards Committee

  2. INTOSAI Organisation PSC INTOSAI Professional Standards Committee

  3. Objective of the PSC To promote strong, independent, and multidisciplinarySAIs by (1) providing and maintaininginternational standards of Supreme Audit Institutions (ISSAIs) and (2) contributing to the development and adoption of appropriate and effective professional standards PSC INTOSAI Professional Standards Committee

  4. But whyuse professional standards? • Confidence and trust • Credibility • Quality and consistency • Professionalism PSC INTOSAI Professional Standards Committee

  5. INTOSAI Professional Standards Committee PSC Chair: Denmark PSC Steering Committee Chair: Denmark Goal Liaison: Libya Project on Audit Quality Control Chair: New Zealand Project on Harmonisation Chair: PSC Secretariat Financial Audit Subcommittee Chair: Sweden Performance Audit Subcommittee Chair: Brazil Compliance Audit Subcommittee Chair: Norway Internal Control Standards Subcommittee Chair: Poland Accounting and Reporting Subcommittee Chair: Canada

  6. PSC Achievements • ISSAI website • Adoption of the ISSAI framework • Adoption of 37 new ISSAIs and INTOSAI GOVs • Maintenance frequencyagreed and established • Adoption of INTOSAI Due Process for Developing, Revising and WithdrawingISSAIs - 2010 PSC INTOSAI Professional Standards Committee

  7. Overview of ISSAI Framework Level 1 - Founding Principles ISSAI 1 The Lima Declaration Level 2 - Prerequisites for the Functioning of SAIs ISSAI 10 The Mexico Declaration on SAI Independence ISSAI 20 Principles of Transparency and Accountability ISSAI 30 Code of Ethics ISSAI 40 Quality Control for SAIs Level 3 - Fundamental Auditing Principles ISSAI 100 Basic Principles ISSAI 200 General Standards ISSAI 300 Field Standards ISSAI 400 Reporting Standards Level 4 - Auditing Guidelines Implementation guidelines: ISSAI 1000–2999 Financial Auditing ISSAI 3000-3999 Performance Audit Guidelines ISSAI 4000-4999 Compliance Audit Guidelines • Level 4 - Auditing Guidelines Guidelines on specific subjects: ISSAI 5000-5099 International Institutions ISSAI 5100-5199 Environmental Audit ISSAI 5200-5299 Privatisation ISSAI 5300-5399 IT-audit ISSAI 5400-5499 Audit of Public Debt ISSAI 5500-5599 Audit of Disaster-related Aid ISSAI 5600-5699 Peer Review Guidelines ISSAI 5700-5799 Audit of CorruptionPrevention INTOSAI GOV - Guidance for Good Governance INTOSAI GOV 9100-9199 Internal Control Standards INTOSAI GOV 9200-9299 Accounting and Reporting Standards PSC INTOSAI Professional Standards Committee

  8. INCOSAI 2013 • Presentation of new fundamental auditing principles developed under the Harmonisation Project • Mandate to develop a sustainable INTOSAI standard-setting model PSC INTOSAI Professional Standards Committee

  9. The Harmonisation Project • Established in 2010 • Four sub-projects • Involving more than 25 auditors from the INTOSAI community. • Headed by the PSC Secretariat PSC INTOSAI Professional Standards Committee

  10. New set-up for professional standard setting in INTOSAI • Transparent and effective governance system • Systematised approach to developing standards • Consistency in the use of concepts, wording and presentation of texts in the individual ISSAIs and across the ISSAI framework • Centralised monitoring of developments within public sector auditing PSC INTOSAI Professional Standards Committee

  11. More information on INTOSAI’s standard-setting activities can be found on • www.intosai.org • www. issai.org • www.psc-intosai.org • Questions? PSC INTOSAI Professional Standards Committee