PRINCIPLE 5: Being responsive to changing environments and emerging risks

  1. SAIs should be aware of the expectations of stakeholders and respond to these, as appropriate, in a timely manner and without compromising their independence.
  2. SAIs should, in developing their work programme, respond as appropriate to the key issues affecting society.
  3. SAIs should evaluate changing and emerging risks in the audit environment and respond to these in a timely manner, for example by promoting mechanisms to address financial impropriety, fraud and corruption.
  4. SAIs should ensure that stakeholders’ expectations and emerging risks are factored into strategic, business and audit plans, as appropriate.
  5. SAIs should keep abreast of relevant matters being debated in domestic and international forums and participate where appropriate.
  6. SAIs should establish mechanisms for information gathering, decision making and performance measurement to enhance relevance to stakeholders.

INTOSAI ref. The Value and Benefits of Supreme Audit Institutions(pdf) (ISSAI-P 12).
#tagcoding hashtag: #issai0125

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