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Opportunities and Challenges in Developing Capacity of National Audit Institutions

Opportunities and Challenges in Developing Capacity of National Audit Institutions Financial Management (FM) Europe & Central Asia (ECA). ECA experiences with SAI cooperation. Diagnostics : Cooperation and consultations on country level fiduciary assessments (e.g. CFAAs/CPARs)

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Opportunities and Challenges in Developing Capacity of National Audit Institutions

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  1. Opportunities and Challenges in Developing Capacity of National Audit Institutions Financial Management (FM) Europe & Central Asia (ECA) World Bank, Washington DC May 3-4, 2006

  2. ECA experiences with SAI cooperation • Diagnostics: Cooperation and consultations on country level fiduciary assessments (e.g. CFAAs/CPARs) • Development policy: Consultations on PFM reform agenda and loan conditionality • Fiduciary assurance: Audits and Procurement post reviews of World Bank co-financed projects • SAI capacity development: Loan or grant financed capacity building projects and peer learning events World Bank, Washington DC May 3-4, 2006

  3. Challenges for SAIs and partners To ensure: • Completion of SAI legal and institutional framework • Operational independence for SAIs, including effective working relations with legislators • SAI’s financial statement audits comply with ISA and other relevant standards and requirements • The transformation of SAI conceptual approach from focus on control and inspection to value added audit, supportive of PFM reform initiatives World Bank, Washington DC May 3-4, 2006

  4. Opportunities for SAIs and partners A common interest in: • Promoting and encouraging PFM reform implementation • Ensuring compliance with new legal frameworks • HarmonizingIFI/donoraudit requirements with national requirements,lowering implementation costs • Developing capacity in financial statement audit through benchmarking compliance assessments • Eventually obtaining broaderoperational assurance beyond attestation of financial statements World Bank, Washington DC May 3-4, 2006

  5. SAI capacity development needs in ECA World Bank, Washington DC May 3-4, 2006

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