+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
International Accounting
 

Implementing the International Standards of Supreme Audit Institutions

Vol. 17, Iss. 34, SEPTEMBER 2014

Available online: 6 October 2014

Subject Heading: Foreign experience

JEL Classification: 

Pages: 58-66

Slobodyanik Yu.B. Odessa National Economic University, Odessa, Ukraine
Yslobodyanik@yandex.ru

Importance The subject of the article is standardization in the field of State audit, which is governed by globalization processes, the opportunity to share experience and the best practices due to increased number of INTOSAI member States. After updating the International Standards of Supreme Audit Institutions (ISSAI) in 2013, their implementation by different countries became crucial.
     Objectives The purpose of the research is to study the structure of the ISSAI and their fundamental principles to assess the possibility of their further implementation in the national practice.
     Methods I have investigated a possibility to implement the International Standards of Supreme Audit Institutions through a comparative analysis, analogies and theoretical generalization.
     Results The INTOSAI Professional Standards Committee prepared and presented the first set of the ISSAI in 2010 at the XX Congress of INTOSAI. In 2013, the Organization updated the fundamental principles of State auditing. To assess the compliance with ISSAI there are plans to create Compliance Assessment Tools (iCAT), which will regulate the processes of financial statement audit, performance audit and compliance audit. Major obstacles on the path of rapid distribution of the ISSAI among the supreme authorities of State audit of the INTOSAI member countries are limited human resources, financial difficulties and the problem of translating the standards into national languages. The degree of readiness of the State audit system for the international standards implementation at the current stage does not allow implementing all four ISSAI levels. Therefore, there are proposals to develop the national standards based on the third level of the ISSAI.
     Conclusions and Relevance I conclude that there is a possibility and a need to implement the third level of INTOSAI professional standards in the national practice of State audit.

Keywords: State audit, international standards, implementation, fundamental principles, Supreme Audit Institution

References:

  1. Weinrichter N. O khode proekta garmonizatsii ISSAI [News from the ISSAI harmonization project]. EUROSAI, 2012, no. 18, pp. 41–46.
  2. International Standards of Supreme Audit Institutions: Bringing Standards and Guidelines to Life in EUROSAI. EUROSAI, 2009, no. 15, pp. 37–39.
  3. Slobodyanik Yu.B. Profesіinі standarti derzhavnogo auditu [Professional standards of State audit]. Vіsnik Unіversitetu bankіvs'koї spravi Natsіonal'nogo banku Ukraїni –Bulletin of University of Banking of National Bank of Ukraine, 2012, no. 3 (15), pp. 249–252.
  4. Slobodyanik Yu.B. Formuvannya sistemi derzhavnogo auditu v Ukraїnі: monografіya [Building the system of State audit in Ukraine: a monograph]. Sumi, FOP Natalukha A.S.Sumy Publ., 2014, 321 p.
  5. International Standards of Supreme Audit Institutions. Available at: Link.

View all articles of issue

 

ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

Journal current issue

Vol. 27, Iss. 3
March 2024

Archive