1. Professional standards and guidelines are essential for the credibility, quality and professionalism of public-sector auditing. The International Standards of Supreme Audit Institutions (ISSAIs) developed by the International Organisation of Supreme Audit Institutions (INTOSAI) aim to promote independent and effective auditing by supreme audit institutions (SAIs).

2. The ISSAIs encompass public-sector auditing requirements at the organisational (SAI) level, while on the level of individual audits they aim to support the members of INTOSAI in the development of their own professional approach in accordance with their mandates and with national laws and regulations.

3. INTOSAI’s Framework of Professional Standards has four levels.
Level 1 contains the framework’s founding principles.
Level 2 (ISSAIs 10-99) sets out prerequisites for the proper functioning and professional conduct of SAIs in terms of organisational considerations that include independence, transparency and accountability, ethics and quality control, which are relevant for all SAI audits. Levels 3 and 4 address the conduct of individual audits and include generally-recognised professional principles that underpin the effective and independent auditing of public-sector entities.

4. The Fundamental Auditing Principles at level 3 (ISSAIs 100-999) draw and elaborate on ISSAI 1 – The Lima Declaration and the ISSAIs at level 2 and provide an authoritative international frame of reference defining public-sector auditing.

5. Level 4 translates the Fundamental Auditing Principles into more specific and detailed operational guidelines that can be used on a daily basis in the conduct of an audit and as auditing standards when national auditing standards have not been developed. This level comprises General Auditing Guidelines (ISSAIs 1000-4999) which set the requirements for financial, performance and compliance auditing.

6. ISSAI 100 – Fundamental Principles of Public-sector Auditing provides detailed information on:

  • the purpose and authority of the ISSAIs;
  • the framework for public-sector auditing;
  • the elements of public-sector auditing;
  • the principles to be applied in public-sector auditing.

INTOSAI ref. Fundamental Principles of Public-Sector Auditing(pdf) (ISSAI-100).
#tagcoding hashtag: #issai100i


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