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Revision of ISSAI 30 – Code of Ethics

Revision of ISSAI 30 – Code of Ethics Project proposal to the Steering Committee of the INTOSAI Professional Standards Committee Bahrain, 20-22 May 2014 PSC INTOSAI Professional Standards Committee.

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Revision of ISSAI 30 – Code of Ethics

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  1. Revision of ISSAI 30 – Code of Ethics Project proposal to the Steering Committee of the INTOSAI Professional Standards Committee Bahrain, 20-22 May 2014 PSC INTOSAI Professional Standards Committee

  2. June 2013 – PSC SC meeting in Stockholm: decision on the review of ISSAI 30 – Code of Ethics (endorsed in 1998), in accordance with the maintenance frequency. Late 2013 – Review Project Team established to make an initial assessment: the SAIs of Indonesia, Poland (project leader), Portugal, the United Kingdom and the United States. BACKGROUND

  3. Is ISSAI 30 fit for purpose in the current public sector auditing world? Or is an update necessary? What is INTOSAI Community’s opinion? INITIAL ASSESSMENT

  4. Developed in February 2014 Distributed on 26 February 2014 Closed on 4 April 2014 69 complete answers received April 2014 – Team analysed survey results (Annex 1 to the project proposal) SURVEY on ISSAI 30 REVISION

  5. Team meeting in Warsaw, 8-9 May 2014: conclusion  revision needed Revision needed also in the opinion of the participants of the EUROSAI Seminar on Enhancing Ethics within Supreme Audit Institutions, organised by the EUROSAI Task Force on Audit & Ethics in Lisbon, in January 2014 (Annex 2 to the project proposal). CONCLUSIONS

  6. Team’s recommendation: revision needed project proposal for approval by the PSC Steering Committee PROJECT PROPOSAL

  7. Scope: revise ISSAI 30 – Code of Ethics, and related Notes, as applicable, in accordance with the results of the initial assessment. Objective: to make the standard more useful to SAIs and to make it meet the challenges of the current public audit environment. SCOPE AND PURPOSE

  8. shifting from the perspective of an individual auditor to the SAI perspective, with due consideration to stakeholders, emphasising the importance of ethical culture and principles as a means of preventing unethical behaviour, consistency with other ISSAIs, reviewing fundamental principles and core values; considering consistency with IFAC principles and additional public sector principles, AREAS OF REVISION (1)

  9. considering monitoring compliance with ethical requirements, and inclusion of ethics management and control, updating terminology, improving clarity of the document through consistent headings/numbering/paragraphs etc. AREAS OF REVISION (2)

  10. Need for more detailed guidance and good practice examples Additional guidance on implementation of ISSAI 30? Recommendation to the PSC SC will be made in the process of updating ISSAI 30 DECISION TO MAKE

  11. DRAFT WORK PLAN

  12. TAME FRAME FOR THE DUE PROCESS

  13. Resources and Budget Project Management and Governance Due Process Considerations ISSAI 30 revision – must follow the Due Process for developing new standards ORGANISATION

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