News in Brief

International Journal of Government Auditing – Autumn 2017

Latvia

SAO LATVIA PROVIDES TRAINING ON INTERNATIONAL AUDITING STANDARDS

Latvian national crest.

This summer, the State Audit Office (SAO) of Latvia, in cooperation with the Latvian Association of Certified Auditors, launched a new training program designed to educate certified auditors on applying International Standards for Supreme Audit Institutions (ISSAIs).

The training program, conducted by SAO Latvia staff possessing various professional experience, currently concentrates on topics related to financial audits. Given the experience of certified auditors, the program emphasizes practical examples and provides insight into typical SAO Latvia audit work.

Ensuring SAO Latvia's approach to performing public sector financial audits is clear and comprehensive, ISSAI Practice Notes were emphasized centering on 14 topics:
  • What are ISSAIs?
  • Financial Audit Process
  • Understanding the Audited Entity
  • Relevance
  • Analytical Procedures
  • Risk Assessment
  • Using Works from Other Auditors and Experts
  • Audit Assertions
  • Details and Controls Tests
  • Audit Sampling
  • Audit Approach, Audit Plan, Audit Programs
  • Audit Evidence and Working Documents
  • Assessment of Errors and Reporting on Financial Audit Results
  • Addressing Compliance Issues in Financial Audits

SAO Latvia class on international auditing standards; several rows of tables of attendees, instructor at front discussing presentation slides.

SAO Latvia received highly positive feedback and plans to continue and expand the training program. Future class iterations will include participants at all levels of the auditing community, such as certified auditor assistants and representatives from local municipalities and the Audit Authority of European Union funds.

Additional expansion includes performance and compliance audit modules, as well as in-depth discussions on audit approaches when assessing public sector policies and governance, information and communication systems, and state and municipal enterprises.