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The State Audit Bureau of Kuwait Experience in Measuring Financial & Non-Financial Impacts

The State Audit Bureau of Kuwait Experience in Measuring Financial & Non-Financial Impacts. First: Significance of Audit Impact.

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The State Audit Bureau of Kuwait Experience in Measuring Financial & Non-Financial Impacts

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  1. The State Audit Bureau of Kuwait Experience in Measuring Financial & Non-Financial Impacts

  2. First: Significance of Audit Impact

  3. SAB plays a significant role in the field of control and public fund protection, and contributes to improving the performance within the entities subject to SAB audit. The Bureau endeavors to document the added value arising from SAB’s audit outputs and seeks to enhance the trust of the concerned parties. Therefore, it is necessary to assess the financial and non-financial impacts resulting from SAB’s recommendations that were implemented by the audited entities. The significance of Audit Impact is reflected in the following:

  4. Timeline for the activation and use of Audit Impact Manual:

  5. Second: Concepts related to Audit Impact

  6. Types of Financial and Non-financial Impacts

  7. Guidelines for the measurement of financial and non-financial impacts:

  8. Third: Audit Impact Measurement Forms

  9. Fourth: Main Audit Impacts that were realized as a result of the cooperation and coordination with the audited entities on SAB’s remarks for the fiscal year 2017/2018

  10. Added Value for each Kuwaiti Dinar Expended on SAB Financial Impact 2017/2018 Comparing the direct value added to the public fund against the actual expenditures of SAB In Kuwaiti Dinar Added Value for each Kuwaiti Dinar Expended on SAB Total of SAB Expenditures Total of Financial Impact 44,573,997 293,892,346 Kuwaiti Dinar The realized added value for the fiscal year 2016/2017 was KD 60,462,193, equivalent to KD 1.463 for each Kuwaiti Dinar expended on SAB. Supplementary-Budget Entities Ministries and Government Departments Companies Independent-Budget Entities Total

  11. Financial Impact 2017/2018 - Classified according to the type of entity subject to audit 70% In Kuwaiti Dinar 18% 10 % 2% 205,632,777 53,930,961 30,014,815 4,313,793 Companies Ministries and Government Departments Supplementary-Budget Entities Independent-Budget Entities Total 293,892,346 Percentage 100 % KD KD

  12. Non-Financial Impact 2017/2018 - Classified according to the type of entity subject to audit Ministries and Government Departments Independent-Budget Entities Supplementary-Budget Entities Companies Total Percentage

  13. Thank You

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