The Accounts Committee took part in the Global Summit of the INTOSAI Development Initiative

Representatives of the Accounts Committee took part in the Global Summit of the INTOSAI Development Initiative (IDI) on Enhancing SAI Audit Quality in the format of a videoconference. The meeting was organized and moderated by the SAI of Bhutan and Norway. Representatives of the Supreme Audit Institutions of more than 20 countries also took part in the discussion.

During the meeting, representatives of the AFROSAI, the European Court of Audit, the SAI of Fiji, the Philippines, Sudan, Uganda, the UAE and others made presentations.

The participants discussed the principles of the audit quality management system in accordance with professional standards and audit requirements; risked base focus and proactive approaches; tailored systems scalable to the nature and circumstances, the necessity of providing personnel with competence, as well as monitoring the system as a whole in order to improve and enhance the audit quality.

During the Summit, the necessary elements of the audit quality system were also noted, such as leadership responsibility for the audit quality, fulfilling relevant  ethical requirements, engagement performance, increased focus of professional judgment and scepticism, two-way communication both internally (auditors) and externally (auditees).

 According to the participants of the videoconference, when managing quality, attention should be paid to identifying deficiencies, with increased emphasis on constant monitoring of developed strategies and implemented procedures, with the possibility of implementing remedial actions.

Press service of the Accounts Committee