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Update on project on audit quality control - ISSAI 40 Greg Schollum Project Chair (SAI New Zealand) June 2009. Image here. Purpose of the project. Develop overall code for audit quality within SAIs (ISSAI 40). - PowerPoint PPT Presentation
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June 2009
1
Intosai PSC Steering Committee
Update on project on audit quality control- ISSAI 40
Greg SchollumProject Chair(SAI New Zealand)
June 2009
Image here
June 2009
2
Intosai PSC Steering Committee
Purpose of the project
• Develop overall code for audit quality within SAIs (ISSAI 40).
• Part of level 2 of ISSAI framework (“prerequisites for the functioning of SAIs”).
• Aiming for endorsement at INCOSAI 2010.
June 2009
3
Intosai PSC Steering Committee
Background
• Terms of reference for the project approved in Beijing (October 2008):“Dual approach” endorsed;Support for guidance in ISSAI 40 to complement work of
FAS, CAS, PAS;Suggested additions to project team, including observer
from IAASB staff.
June 2009
4
Intosai PSC Steering Committee
Project team
• Greg Schollum – SAI New Zealand (Project Chair)
• Andrew Baigent – SAI United Kingdom (representing FAS)
• Therese Johnsen – SAI Norway (representing PAS)
• Jesús Lázaro Cuenca – European Court of Auditors (representing FAS)
• A K Thakur – SAI India (representing CAS)
• Mary Riopelle – SAI Canada
• Dr Josef Moser – SAI Austrian Court of Audit
• Michael Nugent – IAASB staff (Observer)
June 2009
5
Intosai PSC Steering Committee
Progress to date
• Draft ISSAI 40 prepared.
• Currently based on ‘companion’ approach.
• Project team meeting planned for September 2009 in London.
June 2009
6
Intosai PSC Steering Committee
Issues on which the views of the PSC Steering Committee are sought
• ‘Companion’ or ‘integrated’ approach?
• Overlap with part 1 of ISSAI 200:Potential withdrawal of ISSAI 200 in due course?
• Any comments on the material within ISSAI 40?
June 2009
7
Intosai PSC Steering Committee
Questions / points of clarification