1. The traditional task of Supreme Audit Institutions is to audit the legality and regularity of financial management and of accounting.
  2. In addition to this type of audit, which retains its significance, there is another equally important type of audit - performance audit - which is oriented towards examining the performance, economy, efficiency and effectiveness of public administration. Performance audit covers not only specific financial operations, but the full range of government activity including both organisational and administrative systems.
  3. The Supreme Audit Institution’s audit objectives - legality, regularity, economy, efficiency and effectiveness of financial management – basically are of equal importance. However, it is for each Supreme Audit Institution to determine its priorities on a case-by-case basis.

INTOSAI ref. Lima Declaration(pdf) (ISSAI-P 1).
#tagcoding hashtag: #issai0014

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