Strategic Development Plan (SDP) Process- Role of FIPP Presentation - - PowerPoint PPT Presentation

Annual Meeting of WGPD, Hyderabad, July 2018

Strategic Development Plan (SDP) Process- Role of FIPP

Presentation to the Working Group on Public Debt (WGPD)

INTOSAI Framework of Professional Pronouncements (IFPP)

Revised Due Process for quality assurance for pronouncements included in IFPP Strategic Development Plan (SDP) as a planning tool for the development of the IFPP Forum for INTOSAI Professional Pronouncements (FIPP) as a permanent body for standard setting serving as a single point of entry for IFPP pronouncements

NEW NEW FEA FEATURES TURES OF INT OF INTOSAI OSAI ST STAND ANDARD ARD SE SETT TTING ING

INTOSAI core principles INTOSAI founding principles

INTOSAI Principles (INTOSAI-P)

INTOSAI Framework of Professional Pronouncements (IFPP)

1 2 3 4 5 8 6 9 7 10 11 18

Auditing Standards (ISSAI-A)

Financial audit: Performance audit: Compliance audit: SAI organisational requirements - SAI level Fundamental principles of public sector auditing - Engagement level

Financial audit principles

Other engagements:

Financial audit standards Performance audit principles Performance audit standards Compliance audit principles Compliance audit standards (Reserved for future development based on ISSAI 100) … and competency standards

Competency Standards (ISSAI-C)

(Possibly) Competency principles (Reserved for future development)

12 13 14 15 16 17

Supplementary financial audit guidance Supplementary performance audit guidance Supplementary compliance audit guidance

Other guidance

Supplementary competency guidance Subject matter specific guidance

Auditing Guidance (GUID)

(Guidance on how the ISSAIs can be applied to specific subject matters such as environment, privatisation, public debt, disaster-related aid, corruption prevention, internal control .. etc. )

Other Guidance

Competency Guidance

Supplementary guidance on other engagements

19

INTOSAI principles International Standards of Supreme Audit Institutions INTOSAI Guidance

Strategic Development Plan for INTOSAI Framework of Professional Pronouncements (IFPP)  Setting out general strategy and working plan for development of IFPP

 Aimed at assembling all initiatives to develop, revise, or withdraw professional pronouncements

 Towards a clear, consistent and adequate set of professional pronouncements

Goal Chairs ensure all relevant needs are addressed

Public consultation to encourage inputs from interested parties PSC-SC approves the SDP for submission to Governing Board

Procedure under revised Due Process for drawing up SDP

SDP 2017-2019

(Endorsed in 2016)

Focuses on putting in place the IFPP by 2019

Includes list of projects under 3 priorities

• Priority 1: projects related to

implementation of new framework of professional pronouncements

• Priority 2: projects to develop

guidance by 2019 to support ISSAI implementation

• Priority 3: projects to strengthen

professional pronouncements beyond 2019

Work has started on preparing 2nd SDP Presently being implemented

• 1. Scanning

Phase

March-June 2018 (completed)

• 2. Gathering

Inputs Stage

June-Sept 2018

(ongoing)

• 4. Approval Phase

June-Sept 2019

• 3. Development

Phase

Sept-May 2019

Four phases in SDP 2020-2022 Plan Process

FIPP’S ROLE IN DEVELOPMENT OF SDP 2020-2022

1 FIPP has carried out comprehensive scanning exercise to identify nine focus areas around which the public consultation for the next has been organised FIPP’s proposal for the steps and timetable for the process for drawing up the next SDP approved by the PSC-SC 2 3 FIPP will develop an objective assessment system at its next meeting in August 2018, based on due process requirements:

• that SDP leads to a set of professional

pronouncements that are clear, consistent and adequate. FIPP will also consider the capacity across the INTOSAI community to deliver the projects. 4 Based on criteria for assessment, FIPP will shortlist proposals for inclusion in next SDP and submit to PSC-SC 5 6 SDP submitted by PSC-SC to GB for approval

FIPP’s expectation regarding pronouncements under development – GUID on Public Debt (SDP 2.9 )  FIPP expects that new GUID on public debt will emerge out of review of all existing ISSAIs on public debt  GUID will provide guidelines on how to apply concepts of public debt in FA/CA/PA audits  All existing material should be reviewed – proposed GUID should only include subject specific information  ISSAIs on public debt which are not subject specific – internal control, IT audit etc., and ISSAIs which have lost their relevance should be proposed for withdrawal

FIPP’s expectation …contd  It is important that project groups seek guidance from FIPP in due time before the exposure draft is finalized in order to ensure smooth approval and avoid delays-

 Especially for documents slated for 90-day exposure after FIPP’s next meeting on 20-25 August, 2018

– Recommend presenting preliminary drafts to FIPP before the final exposure draft is finalized – Task force of FIPP members set up provide to first review of draft exposure document – FIPP will need at least one opportunity to consider a draft at a physical FIPP meeting before it is formally received for approval

FIPP’s key messages to project groups (new SDP)

• Subcommittees and working groups should

be prepared to review pronouncements and provide inputs to the next SDP

• The purpose of this review will be to identify

long-term needs

• The projects based on the next SDP will be

launched in 2020-2022 and result in new pronouncements for endorsement by INCOSAI 2025 or later

FIPP’s key messages…

• The next SDP will consist of projects that are initiated in 2020-

2022.

– These will be projects with a longer timeline than 2022. – It will therefore not be relevant to propose projects aiming at completion by 2022 in connection with the development of the next SDP

• It is therefore important to consider a long-term perspective

when providing inputs to the next SDP

• Working groups should identify resources required for drafting

pronouncements under the proposed SDP projects

• Once approved for inclusion in the SDP, the projects should

find place in the work plans of working groups

Thank you!