Auditors love words! Having served as an auditor for more than 10 years, it seems that words tend to be a source of comfort and confidence, and we, as auditors, rely on words when attempting to get our message across to readers. At the same time, we realize those reading our reports are probably suffering from information overload and are...
“You must run to keep in place. If you want to get somewhere else, you must run at least twice as fast as that.”—Red Queen theory of evolution. Traditionally, audits, based on accounting standards, have focused on financial statement accuracy and regularity. In the area of public audit, the traditional approach also...
Public audit aims to enhance good governance by promoting transparency and accountability in governmental financial affairs. Throughout the audit process, identifying any weaknesses and gaps is crucial...
Supreme Audit Institutions (SAIs) play a pivotal role in holding governments accountable for the use of public funds. At the forefront of good governance, SAIs can significantly add value and benefits to the lives of citizens. This article explores SAI stakeholder engagement and presents findings from an international survey...
The adoption of the Sustainable Development Goals (SDGs) by the United Nations (UN) in 2015 marks an impressive milestone in the modernized world's history. Nearly all UN-member countries have accepted (and most have ratified) the SDGs into national policy frameworks. The SDG initiative attempts to...
Since 2005, the Office of the State Audit Office (SAO) of the Kingdom of Thailand, the nation's Supreme Audit Institution (SAI), has been responsible for initiating environmental audits, and the SAO gives precedence to environmental issues involving sustainable development. This article depicts the SAO’s three-phase approach in carrying out environmental performance audits and cultivating...
Poland has declared its commitment to implement the 2030 UN Agenda and the Sustainable Development Goals (SDGs), a task calling for cooperation from the entire administration and all relevant stakeholders. A new development model for Poland, outlined in the country's Strategy for Responsible Development, meets Agenda 2030 expectations and is consistent with...
In 2016, Korea spent approximately 25 trillion won on Social Overhead Capital (SOC), which equates to roughly 15% of the central government’s budget. The SOC is defined as 46 specified infrastructure projects—roads, railroads, harbors, dams and schools. These projects, major sources of financial burdens to administrative agencies, have demonstrated, through several studies, overestimated demand forecasts and underestimated costs...
In 2016, a 7.8 magnitude earthquake rocked the Ecuadorian coast, constituting one of the most catastrophic tragedies in the history of the country. The quake left 663 people dead, 6,274 injured, 80,000 people displaced, great damage to infrastructure and more than 2,300 aftershocks in the following months. Consequently, reparation measures cost approximately 3,344 USD million, challenging the response capacity of numerous public institutions, including the Office of the Comptroller General of the Republic of Ecuador...
Capacity building is critical for all dynamic organizations, both public and private. Training, an essential tool to systematically build capacity, also helps achieve desired organizational objectives. Public sector training programs are generally funded through national budgetary allocations and tend to be subject to audit by Supreme Audit Institutions (SAIs), the nature of which is determined by the SAI mandate that, typically, covers...