Summer 2016

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...

SAO Hungary Issues “Pillars of Good Governance” Series
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SAO Hungary Issues “Pillars of Good Governance” Series

The State Audit Office of Hungary (SAO) fundamentally renewed its activities in the past 5 years further developing international principles of good governance. The SAO’s study series titled "Pillars of Good Governance" and the Hungarian model of good governance embody the results of our work, our experience gained during the renewal and the synthesis of our knowledge. In accordance with its institutional strategy, the mission of the State Audit Office of Hungary (SAO) is to promote...

Myanmar Welcomes New Union Auditor General
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Myanmar Welcomes New Union Auditor General

On April 5, 2016, Mr. Maw Than, a well-known economist (born August 28, 1939), officially assumed his role as Union Auditor General (UAG) of the Office of the Auditor General of the Republic of the Union of Myanmar. He was appointed by the President in 2016 with the approval of the Parliament for a term of five years. Mr. Maw Than has served in several high-visibility roles, including...

Thailand Hosts ASOSAI GB Meeting and International Symposium
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Thailand Hosts ASOSAI GB Meeting and International Symposium

The Office of the Auditor General of Thailand (OAG) hosted the 50th Asian Organization of Supreme Audit Institutions (ASOSAI) Governing Board Meeting (GBM), as well as the International Symposium on the "National Integrity System (NIS)" February 15-19, 2016, on the auspicious occasion of the 100th anniversary of its establishment. The objectives of the symposium were...

New SAV AG Promotes Transparency, Citizen Ownership
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New SAV AG Promotes Transparency, Citizen Ownership

On April 5, 2016, Doctor Ho Duc Phoc was appointed by the National Assembly as Auditor General (AG) of the State Audit Office of Vietnam (SAV). He was nominated by the Chairwoman of the National Assembly (NA) and was approved by the majority of the NA. Dr Phoc says that, "I will try, with my utmost efforts, together with other leaders of the SAV and the entire Office, to achieve...

UAE Hosts 67th INTOSAI Governing Board Meeting
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UAE Hosts 67th INTOSAI Governing Board Meeting

Dr. Harib Al Amimi, President of State Audit Institution and First Vice-Chairman of the INTOSAI Governing Board, opened the 67th INTOSAI Governing Board meeting held at Emirates Palace in Abu Dhabi, United Arab Emirates (UAE), November 9-11, 2015. Dr. Al Amimi delivered an opening speech welcoming the heads of Supreme Audit Institutions (SAIs), governing board...

NAO Malta Appoints Auditor General, Deputy Auditor General
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NAO Malta Appoints Auditor General, Deputy Auditor General

On March 30, 2016, Charles Deguara was appointed as Malta’s new Auditor General by the President of Malta following unanimous approval by Parliament for a five-year period in terms of Malta’s Constitution. He succeeds Anthony C. Mifsud, who was earlier appointed as the Parliamentary Ombudsman March 16, 2016. Prior to his appointment, Charles Deguara served...

Professional Standards Committee Meets in Denmark
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Professional Standards Committee Meets in Denmark

The Professional Standards Committee (PSC) met in Copenhagen in May 2016. The event marked a significant milestone for the PSC Chair (Denmark) as this year is its last as chair of that committee. Representatives from the Tribunal de Contas (TCU) in Brazil (the incoming chair) and the European Court of Audits (incoming vice chair) discussed...

NAOL Approves Strategic Framework, Sets Ambitious Goal
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NAOL Approves Strategic Framework, Sets Ambitious Goal

The National Audit Office of Lithuania (NAOL) approved a new long-term development document establishing the institution’s mission, vision and values, as well as its ambitious strategic goal: to increase public sector efficiency and the value it generates for society. The NAOL will strive to achieve this goal by increasing audit impact, quality and communication. We...