I N T O S A I . PUBLIC DEBT COMMITTEE. Public Debt: General Policies and Best Practices. Portugal, June 21-22, 2007. Background. An Exercise of Reference Terms to Carry Out Performance Audit of Public Debt. The following document was presented in Moscow :.
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PUBLIC DEBT COMMITTEE
Public Debt: General Policiesand Best Practices
Portugal, June 21-22, 2007
The following document was presented in Moscow:
Comments from PDC members were included and the paper was endorsed during the Sofia meeting.
It was agreed in Sofia that a document should be prepared on general policies and best debt management practices, complementary to the exercise of reference terms to carry out performance audit of public debt.
The first draft of the document was presented at Buenos Aires meeting, which was titled:
Public Debt: General Policies and Best Practices.
The paper focused in explaining public debt policies’ decision makers and operators logic.
This country’s comments were taken into consideration regarding indicators, as well as the need for standardizing public debt accounting records.
The text on internal auditing sent by this country was included as part of the section on the functions to be considered for a Debt Management Office.
We sincerely thank you for your kind comments.
This paper must be seen as complementary to the PDC product An Exercise of Reference Terms to Carry Out Performance Audit of Public Debt.
Its purpose is to provide the auditor a general framework of public policies design and management.
The main issue, auditing, is included in the first document.
a) Best Management Practices
b) Transparency and accountability.
Comments focused on three principles: