Strategic Development Plan (SDP) Process- Role of FIPP Presentation to the Working Group on Public Debt (WGPD) Annual Meeting of WGPD, Hyderabad, July 2018
NEW FEA NEW FEATURES TURES OF INT OF INTOSAI OSAI STAND ST ANDARD ARD SE SETT TTING ING INTOSAI Framework of Professional Pronouncements (IFPP) Forum for INTOSAI Professional Strategic Pronouncements Revised Due Process Development Plan (FIPP) as a permanent for quality assurance (SDP) as a planning body for standard for pronouncements tool for the setting serving as a included in IFPP development of the single point of entry IFPP for IFPP pronouncements
INTOSAI Framework of Professional Pronouncements (IFPP) INTOSAI Principles (INTOSAI-P) INTOSAI principles INTOSAI founding principles 1 INTOSAI core principles 2 Auditing Standards (ISSAI-A) Competency International Standards Standards of (ISSAI-C) SAI organisational requirements - SAI level 3 Supreme Audit Fundamental principles of public sector auditing - Engagement level Institutions 4 (Reserved for future development) Other engagements: Financial audit: Performance audit: Compliance audit: (Possibly) Financial Performance Compliance (Reserved for future 5 6 7 11 18 Competency audit audit audit development principles principles principles principles based on ISSAI 100 ) … and competency Financial Performance Compliance standards 8 9 10 audit audit audit standards standards standards INTOSAI Auditing Guidance (GUID) Competency Guidance Guidance Supplementary Supplementary Supplementary Supplementary 12 13 14 15 financial audit performance compliance guidance on other guidance audit guidance audit guidance engagements Supplementary 19 competency Subject matter specific guidance 16 guidance (Guidance on how the ISSAIs can be applied to specific subject matters such as environment, privatisation, public debt, disaster-related aid, corruption prevention, internal control .. etc. ) Other Guidance Other guidance 17
Setting out general strategy and working plan for development of IFPP Strategic Development Plan for Aimed at assembling all initiatives INTOSAI Framework of Professional to develop, revise, or withdraw Pronouncements (IFPP) professional pronouncements Towards a clear, consistent and adequate set of professional pronouncements
Goal Chairs ensure all relevant needs are addressed Procedure under revised Due Process for PSC-SC drawing up SDP Public consultation to approves the encourage inputs from SDP for interested parties submission to Governing Board
Presently being implemented Focuses on putting in place the IFPP by 2019 Includes list of projects under 3 priorities - Priority 1 : projects related to implementation of new framework of professional pronouncements - Priority 2: projects to develop SDP 2017-2019 guidance by 2019 to support ISSAI implementation - Priority 3: projects to strengthen professional pronouncements (Endorsed in 2016) beyond 2019 Work has started on preparing 2 nd SDP
1. Scanning 2. Gathering Phase Inputs Stage March-June 2018 June-Sept 2018 (ongoing) (completed) Four phases in SDP 2020-2022 Plan Process 4. Approval Phase 3. Development Phase June-Sept 2019 Sept-May 2019
SDP submitted by PSC-SC to GB for 6 approval FIPP’S ROLE IN Based on criteria for assessment, FIPP DEVELOPMENT OF will shortlist proposals for inclusion in 5 next SDP and submit to PSC-SC SDP 2020-2022 FIPP will also consider the capacity across 4 the INTOSAI community to deliver the projects. FIPP will develop an objective assessment system at its next meeting in August 2018, based on due process requirements: 3 - that SDP leads to a set of professional pronouncements that are clear, consistent and adequate. FIPP’s proposal for the steps and timetable for the process 2 for drawing up the next SDP approved by the PSC-SC FIPP has carried out comprehensive scanning exercise to 1 identify nine focus areas around which the public consultation for the next has been organised
FIPP’s expectation regarding pronouncements under development – GUID on Public Debt (SDP 2.9 ) FIPP expects that new GUID on public debt will emerge out of review of all existing ISSAIs on public debt GUID will provide guidelines on how to apply concepts of public debt in FA/CA/PA audits All existing material should be reviewed – proposed GUID should only include subject specific information ISSAIs on public debt which are not subject specific – internal control, IT audit etc., and ISSAIs which have lost their relevance should be proposed for withdrawal
FIPP’s expectation … contd It is important that project groups seek guidance from FIPP in due time before the exposure draft is finalized in order to ensure smooth approval and avoid delays- Especially for documents slated for 90-day exposure after FIPP’s next meeting on 20 -25 August, 2018 – Recommend presenting preliminary drafts to FIPP before the final exposure draft is finalized – Task force of FIPP members set up provide to first review of draft exposure document – FIPP will need at least one opportunity to consider a draft at a physical FIPP meeting before it is formally received for approval
FIPP’s key messages to project groups (new SDP) • Subcommittees and working groups should be prepared to review pronouncements and provide inputs to the next SDP • The purpose of this review will be to identify long-term needs • The projects based on the next SDP will be launched in 2020-2022 and result in new pronouncements for endorsement by INCOSAI 2025 or later
FIPP’s key messages… The next SDP will consist of projects that are initiated in 2020- • 2022. – These will be projects with a longer timeline than 2022. – It will therefore not be relevant to propose projects aiming at completion by 2022 in connection with the development of the next SDP It is therefore important to consider a long-term perspective • when providing inputs to the next SDP Working groups should identify resources required for drafting • pronouncements under the proposed SDP projects Once approved for inclusion in the SDP, the projects should • find place in the work plans of working groups
Thank you!
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