Summer 2016

Taking Actions Globally for a Sustainable Future
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Taking Actions Globally for a Sustainable Future

It is a great privilege and gives me deep pleasure to seize this opportunity at the end of my 12-year term as Secretary General of INTOSAI to reflect on the past decade’s milestones and to take an outlook on future opportunities and the challenges that lie ahead. When I assumed office as Secretary General of INTOSAI, the organization was shaped by new visions and the spirit of renewal and innovation. My appointment to office coincided with the adoption of INTOSAI’s first Strategic Plan...

SAI Algeria’s Strategic Plan 2015-2018 Approved
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SAI Algeria’s Strategic Plan 2015-2018 Approved

The Programs and Reports Committee of the Court of Accounts in Algeria approved the SAI’s second strategic plan covering the years 2015 to 2018 at its meeting held April 1, 2015. The plan takes into account the recommendations of its recent peer review and a partnership with the French Court of Accounts. Based on recommendations from its peer review report, the Court of Accounts expressed its willingness to receive institutional support to strengthen...

You May Have Noticed…Something Has Changed
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You May Have Noticed…Something Has Changed

The Journal is committed to this continued transformation, and you may have noticed a bit of a metamorphosis in the overall look and feel of this edition. The goals behind the redesign of the Journal include giving it a more contemporary, yet corporate, look and feel; providing a cleaner and more engaging reading experience; increasing readership accessibility; and adapting the Journal into a more robust tool for knowledge sharing...

The Digital Revolution: Threat or Opportunity for the Audit Profession
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The Digital Revolution: Threat or Opportunity for the Audit Profession

The audit profession in the Netherlands has been involved in a series of major incidents in recent years. The good news is that the Dutch audit profession has adopted a raft of measures since we wrote to Parliament in 2014, highlighting the main concerns from a public-sector viewpoint. The question is whether we are fighting the final battle in the war to restore public trust or just the next in a long series of battles...

Letter from the Editor
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Letter from the Editor

As journalists, we do our best to ensure that everything is clear, concise and correct. But, there are times when we don’t always completely meet that challenge, particularly taking into account the global nature of our business. In the Spring 2016 issue of the INTOSAI Journal, we published quite a bit of news and some fascinating feature articles. In fact, we received numerous inquiries about some of the reporting in the last edition, specifically submissions from the State Audit Office of the Republic of Latvia...

Emerging Risk Framework for Banking Systems, Regulatory Response
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Emerging Risk Framework for Banking Systems, Regulatory Response

Financial institutions and markets provide essential services to the U.S. and global economies. However, weaknesses in federal oversight have contributed to the thrift and bank crises in the 1980s and the financial crisis experienced from 2007-2009. For example, the resolution of banks and thrifts during these crises cost federal bank and thrift insurance funds over $165 billion and resulted in unprecedented...

CNAO, GAO Leverage Expertise to Generate Results
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CNAO, GAO Leverage Expertise to Generate Results

In 2012, heads of the SAIs of China and USA signed a Memorandum of Understanding (MoU). According to the MoU’s objective, "The participants intend to establish, improve, and develop a framework for cooperation in national audit and promote effective interaction between the participants on the basis of equality, reciprocity, and mutual benefit." The MoU has allowed the National Audit Office of the People’s Republic of China (CNAO) and the United States Government Accountability Office (GAO) the opportunity to...