1. The considerable funds expended by public authorities on contracts and public works justify a particularly exhaustive audit of the funds used.
  2. Public tendering is the most suitable procedure for obtaining the most favourable offer in terms of price and quality. Whenever public tenders are not invited, the Supreme Audit Institution shall determine the reasons.
  3. When auditing public works, the Supreme Audit Institution shall promote the development of suitable standards for regulating the administration of such works.
  4. Audits of public works shall cover not only the regularity of payments, but also the efficiency of construction management and the quality of construction work.

INTOSAI ref. Lima Declaration(pdf) (ISSAI-P 1).
#tagcoding hashtag: #issai00121

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