working group on public debt progress report 6th meeting of the steering committee of the intosai...
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Working Group on Public DebtProgress Report
6th Meeting of the Steering Committee of the INTOSAI Committee on the Knowledge Sharing
and Knowledge Services (Goal 3)Cairo, Egypt
October 14 and 15, 2014
2014 meeting
WGPD | 2
Seoul October 22-24, 2014
38 participants
IDI + 19 member SAIs
World Bank (observer)
WGPD | 3
PSC Timeframe:
2010-2013
Revision:
ISSAIs 100-4999
Impact:
ISSAIs 5000-5999 KSC
ISSAIs Harmonization ProjectRelevance to KSC
WGPD | 4
ISSAIs Harmonization ProjectCriteria for the revision of WGPD ISSAIs
1. Are the ISSAIs and INTOSAI GOV still useful?
2. Do they need to be updated? In what respects?
3. Do the Working Group’s ISSAIs need to be harmonized with other WGPD products?
4. Do Working Group’s ISSAIs need to be aligned with the ISSAIs 100-4999?
5. Do Working Group’s ISSAIs need to be aligned with the general ISSAI terminology?
WGPD | 5
PSC: ISSAIs Harmonization
Project
WG members: Periodic Revision
Selected WG members: Revision
WGPD: Preliminary
revision
Permanent
Review frequency at least every 5 years
Finalized
Concluded
ISSAIs Harmonization Project
WGPD | 6
Investigation ThemesStrategic Plan - Objectives
To prepare and publish guidelines and other material to be used by SAIs in order to encourage the proper reporting and sound management of public debt
to identify key issues for the development of responsibilities and procedures for auditing and evaluating public debt commitments
to prepare papers examining matters on public debt definition, reporting and assessment
ASF | 7
Evaluation of Information Systems related to Public Debt ManagementBrazil
• Origin: 2009, Kyiv– To encourage the proper
reporting and sound public debt management
• Work Team:– Brazil, Chile, Moldova,
Zambia
• Sections:– Planning,– General Controls,– Application controls.
ASF | 8
Evaluation of Information Systems related to Public Debt ManagementBrazil
XXII INCOSAIISSAI 5450
INTOSAISecond round?
INTOSAIJuly 1 – October 1, 2013
PSCComments Nomenclature
KSCMay 2013
WGPD2012• Subject to Due Process
• Current implementation– Coordinated Parallel Audit of
PDM Information Systems
• Work Plan developed for a Guidance of Auditing on Public Debt Information Systems
ASF | 9
Public Debt Management OfficeMexico
XXII INCOSAIINTOSAI GOV
INTOSAIExposure for comments
PSC
KSCFeedback
WGPD• Origin: Nadi, 2008
• Work Team:– Bulgaria, [Canada], Fiji,
Mexico [UK], Zambia
• Subject to Due Process– Comments by WG and
IADB– Feedback by KSC + US
GAO– Ready for exposure
ASF | 10
Concept Framework of Coordinated Parallel Audit of PDM Information SystemsUkraine
• Work Plan: 2014-2015• Objective:
– To assess the appropriate implementation of management and control process in relation to the efficiency of Public Debt Management National Information Systems
• Target:– Entities responsible for
PDM information systems.
• 11 SAIs involved• Meetings:
– 2013: Kyiv, Ukraine– 2014: Chisinau, Moldova
• Reference:– Guide for Auditing Public
Debt Management (outcome of the IDI Trans-regional Program)
– Guidance of Auditing on Public Debt Information System (ISSAI 5450)
ASF | 11
Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI
• First Trans-Regional Programme
– IDI-WGPD Trans-regional Programme on Public Debt Management Audit, 2008 – 2011.
– 29 SAIs completed the Programme Activities (69/80 participants) from AFROSAI-E, AFROSAI-F, ASOSAI, EUROSAI, ARABOSAI and PASAI
– “Auditing Public Debt Management Guide” It provides practical audit procedures, questions and tools to assist auditors in conducting audits on nine specific public debt management topics.
ASF | 12
Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI
• Work Plan: 2013 - 2016– Joint effort: MFA, WGPD ,UNCTAD & IDI
• Objective:– “to strengthen the professional and institutional capacity
of participating SAIs in conducting in-depth and effective audit of lending and borrowing frameworks, which in turn would result in influencing effective sovereign lending and borrowing practices”
Exchange of experience and knowledge
In-person meetings
Best practice studies Challenges facedInnovative
methodologies and new developments
WebsiteVirtual space Paradigmatic Audits Relevant audit reports
WGPD | 13
ASF | 16
Revision of the WGPD Strategic Plan
The discussion
startedduring a meeting
held in 2012
The Working Group
Strategic Plan wouldn’t require a further
development
The Working Group
Strategic Plan needs an update on current INTOSAI themes
The validity of the
Organization plan valid until 2016 should be
revised
Impact of the Working Group on the INTOSAI community
ASF | 17
• A second Survey on the Impact of the Working Group on the INTOSAI community was applied
• The first exercise was conducted in 2005
• The survey is a useful input to strategically focus the efforts of the Working Group
Motions for endorsement
ASF | 18
To take note of the Working Group’s annual report.
To take note of the development of the draft ISSAI 5450 “Guidance on Auditing Public Debt Information System”, that will be presented in the 2016 INCOSAI for its final approval.
To take note of the development of a potential INTOSAI GOV “Public Debt Management Office”, that will be subject to the PSC Due Process and would be presented in the 2016 INCOSAI for its final approval.
To allow the Working Group’s Chair to submit to the Chair of the KSC Steering Committee a complementary report after its annual meeting, to be held on October 22-24, 2014 in Seoul, Korea.