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International Organization of Supreme Audit Institutions

INTOSAI 50 Years report

The International Organization of Supreme Audit Institutions (INTOSAI) is an intergovernmental organization whose members are supreme audit institutions. Nearly every supreme audit institution in the world is a member of INTOSAI. Depending on the type of system used in their home country, the members of INTOSAI may be variously titled the Chief Financial Controller, the Office of the Comptroller General, the Office of the Auditor General, the Court of Accounts, or the Board of Audit.

INTOSAI holds a triennial conference entitled the International Congress of Supreme Audit Institutions (INCOSAI).[2]It publishes the quarterly International Journal of Government Auditing and publishes guidelines and international standards on auditing.

History

INTOSAI was founded in 1953[3] in Havana, Cuba.[4] Thirty-four audit organizations formed the group originally and as of 2010 the current membership includes 193 institutions (188 national institutions, the European Court of Auditors and 4 associated members).[3]

The members of INTOSAI are the primary external auditors of the United Nations.[4] The UN's General Assembly appoints the UN Board of Auditors (3 members appointed for 6 years) among the INTOSAI member representatives.[5]

The ISSAIs, International Standards of Supreme Audit Institutions

The International Standards of Supreme Audit Institutions (ISSAI) are a benchmark for auditing public entities (External Audit Standards for public entities).

The "INTOSAI Auditing Standards" had been approved by the INCOSAI in 1998 and updated in 2001. In its strategic plan 2005–2010, the INTOSAI decided to "provide an up-to-date framework of professional standards", so the INTOSAI Professional Standards Committee decided to merge the existing and new INTOSAI standards and guidelines into a framework.

The framework comprises all documents endorsed by INCOSAI with the purpose of guiding the professional standards used by SAIs

The list of ISSAIs is in the table below:

The three main types of public-sector audit

Financial Audit

Financial audit focuses on determining whether an entity’s financial information is presented in accordance with the applicable financial reporting and regulatory framework. This is accomplished by obtaining sufficient and appropriate audit evidence to enable the auditor to express an opinion as to whether the financial information is free from material misstatement due to fraud or error.

Performance Audit

Performance audit focuses on whether interventions, programmes and institutions are performing in accordance with the principles of economy, efficiency and effectiveness and whether there is room for improvement. Performance is examined against suitable criteria, and the causes of deviations from those criteria or other problems are analysed. The aim is to answer key audit questions and to provide recommendations for improvement.

Compliance Audit

Compliance audit focuses on whether a particular subject matter is in compliance with authorities identified as criteria. Compliance auditing is performed by assessing whether activities, financial transactions and information are, in all material respects, in compliance with the authorities which govern the audited entity. These authorities may include rules, laws and regulations, budgetary resolutions, policy, established codes, agreed terms or the general principles governing sound public sector financial management and the conduct of public officials.

Examples of publications

Examples of its major publications are:

Adoption by intergovernmental organizations

In addition to the INTOSAI members (the Supreme Audit Institutions), the following intergovernmental organizations have adopted INTOSAI AS:

INTOSAI and Internal Audit

The Institute of Internal Auditors (IIA) is among the five associated members of the INTOSAI.[9] The INTOSAI is a strong advocate for the establishment of Independent Internal audit in public entities.

The guidance "INTOSAI GOV 9100" states:

Regional working groups

List of INTOSAI Conferences

Memberships

The following supreme audit institution are members of INTOSAI:[9]

Full Members

Supranational Organisations

Associate Members

See also

References

  1. ^ "Margit Kraker". International Organization of Supreme Audit Institutions. Archived from the original on 13 December 2017. Retrieved 14 March 2019.
  2. ^ Shah, Anwar (2007), Performance Accountability and Combating Corruption (PDF), Washington, D.C., U.S.: World Bank, p. 309, ISBN 978-0821369418, OCLC 77116846
  3. ^ a b Hussey, Roger; Ong, Audra Wei Ming (2006), International Financial Reporting Standards Desk Reference, Hoboken, New Jersey: John Wiley & Sons, p. 289, ISBN 978-0-471-72715-6, OCLC 57573800
  4. ^ a b Franda, Marcus F. (2006), The United Nations in the Twenty-first Century: Management and Reform Processes in a Troubled Organization, Lanham, Maryland, U.S.: Rowman & Littlefield, p. 219, ISBN 978-0-7425-5334-7, OCLC 62895793
  5. ^ "United Nations Board of Auditors".
  6. ^ "Audit". Archived from the original on 14 October 2009. Retrieved 22 August 2010.
  7. ^ "United Nations Board of Auditors".
  8. ^ The INTOSAI Financial Audit Guidelines will be based on the International Standards on Auditing (ISA) issued by the IAASB http://www.afrosai-e.org.za/HOME/Menu/TechnicalAdvancement/INTOSAIauditingstandards/tabid/82/Default.aspx
  9. ^ a b Official membership list https://www.intosai.org/about-us/members

External links