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Role of Bulgarian National Audit Office for Effective Public Finances Management

Learn about the valuable role of the Bulgarian National Audit Office in ensuring good governance through various activities and influencing policy-making, ultimately making a difference in citizens' lives. Discover the new paradigm of Supreme Audit Institution roles, value, and benefits, focusing on strengthening transparency, accountability, and integrity in the public sector. Explore the importance of communication, stakeholder engagement, and being initiators of positive change in governance practices.

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Role of Bulgarian National Audit Office for Effective Public Finances Management

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  1. BNAO ROLE FOR EFFECTIVE MANAGEMENT OF PUBLIC FINANCES TzvetanTzvetkov, CIA, CGAP, CRMA - President of the Bulgarian National Audit Office

  2. Bulgarian National Audit Office: • ISSAI 12: • Public sector auditing, as championed by the SAIs, is an important factor in making a difference to the lives of citizens. The SAI is an essential component in a democratic system where accountability, good governance and integrity are indispensable parts • of a stable democracy. A supreme audit institution which exercises control over the execution of the budget and other public funds and activities.

  3. BNAO role for ensuring good governance

  4. Activities for exerting direct influence:

  5. Activities for exerting indirect influence: Participation in discussion fora,conferences and round tables, conducting joint studies with NGOs; Presenting statements on draft legislation; Participation in working groups onelaboration of policies, positions, etc; Cooperation and coordination agreements with other control bodies; Cooperation agreements with non-governmental professional organisations; Publication of audit results: Publication of audit reports on the BNAO website; Press conferences on significant audits; Publications in the press, interviews for the media, participation in TV programmes.

  6. The new paradigm of SAI role for good governance: • Strengthening the accountability, transparency and integrity of government and public sector entities; • Demonstrating ongoing relevance to citizens, Parliament and other stakeholders and appropriate responding to the changing environments and emerging risks; • Being a model organisation through leading by example. The value and benefits of SAIs is in making a difference to the lives of citizens by:

  7. Audits to ensure accountability for the stewardship over public funds:SAIs should strive to meet the expectations of the stakeholders –parliament, citizens, government, NGOs, etc. SAIs should conduct the whole palette of audits – financial audits, performance audits and compliance audits; Do those charged with governance apply the principles of sound management of public funds? Including audits on issues and themes with social significance in SAI’s audit programme; Participation in parallel and coordinated audits in the framework of INTOSAI and EUROSAI; Thematic audits with horizontal coverage for identifying system problems and proposing solutions; Response to risks of financial violations, fraud and corruption.

  8. Communication should contribute to stakeholders’ awareness of the need for transparency and accountability in the public sector: Dialogue with stakeholders:

  9. Reporting on audit results: SAIs should use actively their powers to report on their work: Make audit reports available to the public in a timely manner; Facilitate access through appropriate communication tools; Report objectively in a simple and clear manner; Discuss audit reports in parliament and its commissions with the aim of improving public sector management.

  10. SAIs - initiators of change: SAIs should be a credible source of independent and objective evaluations and initiators of change: To contribute to the debate on improving governance, internal control and risk management in the public sector; Touse their knowledge and studies to advocate public sector reform– e.g. in the management of public finances; Periodically assess whether stakeholders believe that they are effective and contribute to improvements in the public sector; To encourage sharing of knowledge and good practice among budgetary organisations.

  11. SAIs – model organisations: SAI organisation management should be basedon the matrix ”objectives-risks-controls”; Focus on ethics – adherence to ethical principles and norms, sanctioning unethical behaviour; Results-oriented budget, which is a tool for achieving the objectives of the organisation; Implementation of internationally accepted auditing standards and internal control frameworks; Effective mechanisms for identifying and preventing conflicts of interest; External assessment of the quality of SAI’s work; Open dialogue and communication with stakeholders.

  12. Thank you for your attention!

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