The INTOSAI Financial Audit Subcommittee 

Welcome to the website of the INTOSAI Financial Audit Subcommittee (FAS).

THE ISSAIs ON FINANCIAL AUDIT HAVE BEEN ENDORSED BY THE INTOSAI CONGRESS IN NOVEMBER 2010. This means that FAS has concluded its work according to the Work Plan for 2007-2010. The FAS Chair and Secretariat would like to thank the members of the subcommittee and all SAIs contributing by nominating experts or providing comments on our exposure drafts.

FAS is comprised of eleven INTOSAI members: Cameroon, Canada, the European Court of Auditors, the Republic of Korea, Mexico, Namibia, Norway, South Africa, Sweden, the United Kingdom, and the United States. 

The task of the subcommittee is to produce globally accepted auditing guidelines for the public sector. This is done by leveraging the expertise and resources of the International Auditing and Assurance Standards Board (IAASB), an internationally respected auditing standards setting organization. The IAASB is a partner in the standards setting work and also attends FAS meetings.

The Swedish National Audit Office chairs the subcommittee and is the host of a secretariat administrating the work of FAS.

Current activities:

• The FAS secretariat is now working on operationalizing its Work Plan 2011-2013.
• The INTOSAI Congress has endorsed the comprehensive set of Financial Audit Guidelines during its meeting in Johannesburg 22-27 November, 2010. 
• FAS had a meeting in Sandhamn, Sweden 8-9 September 2010.  
• The most recent (April-June 2010) Quarterly Performance Report from FAS can be found here. 
• The IAASB has developed informative ISA modules (video and slides) for some of the new and more significantly revised ISAs

The subcommittee during its meeting in Sandhamn in September 2010.

(24-01-2011)