Harmonisation of ISSAIs

Harmonizing the framework

At the PSC Steering Committee meeting in May 2010 in Copenhagen the committee approved a project proposal on the harmonization of the International Standards of Supreme Audit Institutions (ISSAIs). An important purpose of the project is to revise the text of ISSAI 100-400 The Fundamental Auditing principles and develop the ISSAIs into a more coherent set of standards.

It is the intention of the PSC Steering Committee that the revised fundamental auditing principles (ISSAI 100-999) should improve the overview of the full set of ISSAI’s, including the implementation guidelines on financial, performance and compliance auditing (ISSAI 1000-4999). The principles should provide a “common language” which can be used for explaining and comparing the tasks of SAIs across their different national settings. This will be relevant for the SAI managements’ considerations concerning auditing strategy and for SAIs’ communications to government, parliament and other external stakeholders on their auditing practices. It will also support the exchange of knowledge and experiences within the INTOSAI community. To ensure that the revised principles will be relevant throughout the world the regional representatives in the PSC Steering Committee (Cameroon, Zimbabwe, Bahrain, China, Mexico, New Zealand, USA, Belgium and Denmark) have conducted a mapping of the legal mandates of the SAIs in their respective INTOSAI regions.

The project group established to carry the project through will start its work primo 2011 in order to present the results at INCOSAI in 2013.

The members of INTOSAI are all encouraged to provide their input and comments. These can be sent to psc@rigsrevisionen.dk .

Read Approved project proposal

Papers from the preperation of the project:

The auditing function of the Supreme Audit Institutions

Consistency in the ISSAI framework - Theme papers (updated 14 July 2009)

Appendix 1 - to the theme paper (updated 14 July 2009)

Appendix 2 to the theme paper (updated 14 July 2009)

Letter from FAS (from 11 November 2009)

Extract from the PSC’s report to the INTOSAI Governing Board meeting November 2009

Definition of ‘assurance engagement’ in the standards issued by the International Federation of Accountants (IFAC)

The “dual approach” – an overview of the PSC’s considerations and decisions