1. Supreme Audit Institutions shall be empowered to audit the use of subsidies granted from public funds.
  2. When the subsidy is particularly high, either by itself or in relation to the revenues and capital of the subsidised organisation, the audit can, if required, be extended to include the entire financial management of the subsidised institution.
  3. Misuse of subsidies shall lead to a requirement for repayment.

INTOSAI ref. Lima Declaration(pdf) (ISSAI-P 1).
#tagcoding hashtag: #issai00124

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