INTOSAI Auditing Standards Committee – April 2003

INTOSAI Auditing Standards Committee

The INTOSAI Auditing Standards Committee (ASC) Working Group on Financial Audit Guidelines held a meeting in Washington, D.C., on April 3-4, 2003. All SAIs in the working group—Austria, Canada, Cameroon, Namibia, Norway, the U.K., the U.S., and Sweden (Chair)—attended the meeting and contributed to interesting and fruitful discussions. Observers from the SAI of Japan, the International Federation of Accountants (IFAC), and the World Bank also attended the meeting.

The discussions focused on practical ways to develop the ASC’s cooperative working relationship with IFAC. Under this arrangement, the ASC will provide the public sector perspective on the revision and development of IFAC’s International Standards on Auditing (ISAs). In addition, through the working group, the ASC will write practice notes with advice and instructions for public sector auditors on how to apply each ISA in a public sector context.

IFAC’s International Assurance and Audit Standards Board (IAASB) and the ASC will draft a memorandum of understanding to be approved by the respective bodies by October 2003.

The ASC Working Group has already started to comment on draft ISAs and will continue to do so. In addition, audit experts from the INTOSAI community are expected to participate in the work of IAASB Task Forces working on the revision of ISAs starting later this year.

In May 2003, the ASC Working Group will invite all INTOSAI members to nominate experts to the Reference Panel. The experts who are selected will work with the IAASB Task Forces and on other related tasks. In order to ensure a truly global perspective, the Working Group hopes to receive the contributions of SAIs from around the world and from different auditing systems.

Auditing Standards Committee Members in Washington

Updating Guidelines on Internal Control Standards

To carry out recommendations made at the 17th INCOSAI in Seoul, the Internal Control Standards Committee is currently updating the guidelines on internal control standards. On January 22 and 23, 2003, a task force met at the headquarters of the Belgian Court of Audit in Brussels to begin coordinating the project. Delegates from the SAIs of Belgium (chair), Hungary, Lithuania, the Netherlands, Romania, the United Kingdom, and the United States attended the meeting. The delegates reached an agreement about a framework document incorporating the COSO model and the current guidelines. The SAI of Bolivia, which could not participate in the meeting, submitted its comments in writing. During the next phase of the update, the framework document will be supplemented with three topics. The United Kingdom’s National Audit Office will develop the proposal for risk management. The U.S. General Accounting Office will develop the proposal for the use of information technology. The Dutch “Algemene Rekenkamer” will develop the proposal for ethical values. Once these proposals are developed, they will be integrated into the framework document integration into the framework document. The task force hopes to complete the process by the autumn of 2003. By early 2004, the full Internal Control Standards Committee is expected to endorse the updated guidelines.

For additional information, please contact the Belgian Chair of the Internal Control standards Committee at

Web Page Launched for 18th INCOSAI

The Hungarian State Audit Office, host of the 18th INCOSAI in October 2004, has launched a Web site with useful information about the Congress as well as the 51st Governing Board Meeting and 50th Anniversary of INTOSAI that will be celebrated in Budapest in October 2003. This Web page can be found at It contains information about the program, technical materials, registration, social events, venue, and hotels as well as information about Hungary, Budapest, and the State Audit Office.

The contents of the web site will be updated regularly to include additional information in Hungarian and the four official languages of INTOSAI.

For additional information, contact: Congress Secretariat, XVIII INCOSAI 2004 Budapest, Pf. 54, H-1364 Budapest 4; tel: +36 1 484 9183, +36 1 484 9184; fax: +36 1 484 9294, +36 1 484 9295;.e-mail: