The European Court of Auditors hosted the 15th annual meeting of the International Organization of Supreme Audit Institution’s (INTOSAI) Professional Standards Committee Steering Committee (PSC-SC) in Luxembourg in May 2018.
To make the event participative and equip the PSC-SC to effectively fulfill its strategic role to guide the INTOSAI standard-setting process, the annual meeting followed a new dynamic and productive format. Specifically, participants were encouraged to contribute and meeting sessions were structured around themes with each session having a specific objective and expected outputs. The main themes discussed were:
Implementation of the Strategic Development Plan (SDP) for the INTOSAI Framework of Professional Pronouncements (IFPP)
PSC-SC members were presented with SDP project status updates, and there was broad recognition on the SDP’s value, as well as the accomplishments of various project groups.
Likewise, lessons learned from implementing the SDP were discussed, and solutions were suggested to help plan the next SDP.
Governance of the Forum for INTOSAI Professional Pronouncements (FIPP)
The FIPP’s added value to the standard-setting process was also acknowledged. Participants highlighted the importance for the FIPP to publish its relevant documents and decisions and finalize its working procedures and generated ideas to enhance working relationships between the FIPP and INTOSAI subcommittees and working groups.
A revised Terms of Reference (ToR) for the FIPP was approved, as well as the number of members, which, including the Chair, stands at sixteen. The revised ToR also clarifies member qualifications and the selection process for the FIPP Chair.
Structure and Functioning of Standard Setting
A facilitated discussion on the topic “Why We Do This” included breakout groups that allowed participants to create a vision for the IFPP and establish prioritization criteria for future SDP projects.
Delegates dialogued on important principles, such as independence, transparency and public accountability, and engaged in robust conversations on how INTOSAI standards can best meet these principles and what indicators show INTOSAI is achieving its purpose and goals.
The PSC-SC approved the proposal to create a technical support function for INTOSAI standard-setting activities, with the PSC Chair bearing responsibility for managing this function. The proposal, based on a Proof of Concept paper, will be revised by the PSC Secretariat based on comments received at the meeting. The updated paper, available here, will be submitted to the INTOSAI Governing Board later this year.
The PSC-SC approved the process to develop the IFPP’s next SDP. There will be a 90 day comment period for the INTOSAI community and stakeholders to make suggestions for future projects. It is proposed that the next SDP last six years with a mid-term revision after three years.
The SDP Planning Process can be found here.
Mr. Rafael Lopes Torres, PSC Project Manager, remarked that the 15th annual PSC-SC was highly effective due to insightful comments during the various sessions and thanked attendees for actively participating. The next PSC-SC Meeting will take place June 5-6, 2019, in Warsaw, Poland.