… for SAI financial auditors and senior management
… that guides a SAI on how to conduct a financial audit
… to ensure that SAIs produce value-adding integrated audit reports which adequately include information technology and systems issues
… Assists a SAI to improve the levels of all the questions within Domain 4: Audit standards and methodology
• Adopting a risk-based audit methodology in the management of all its audits (Question 110)
• Ensuring the quality assurance system for all types of audits clearly defines the roles and responsibilities of all team members, team leaders, audit managers, and engagement partners – as well as engagement quality control reviewers, where applicable (Question 124)
• Developing and implementing appropriate systems for engagement quality management reviews for reports on all types of audits (Question 126)
• Ensuring the SAI's annual IT/IS audit coverage, as a percentage of the number of critical national information systems, is… (Question 128)
• Auditing the main integrated financial management expenditure and revenue systems of the country (Question 129)
• Using an electronic audit management system (Question 130)
• Establishing a policy and procedures for contracted- out audits (Question 133)
• Establishing a mechanism for carrying out quality assurance reviews for contracted-out audits (Question 134)
• Declaring the standards a SAI applies when conducting audits, and this declaration is accessible to users of the SAI’s report (Question 135)
• Adopting policies and procedures about how it has chosen to implement its audit standards (Question 136)
• Regularly reviewing the SAI’s quality management system by an independent reviewer (Question 137)
• Ensuring SAI staff with the authority to sign audit reports are subject to regulation in their personal capacity by a professional accountancy organisation and/or independent regulator (Question 139)
• Establishing mechanisms to ensure that the audit recommendations address the root causes and are implementable (Question 140)
• Ensuring individual (financial, compliance and performance) audit opinions or conclusions and assurance for each ministry, department and agency audited (Question 141)
• Establishing practices for evaluating materiality in determining if audit follow-ups require new additional audit(s) (Question 142)
• Ensuring support for the preparations of deliberations of audit findings and outcomes (financial, compliance and performance reports) in parliamentary committees, and participates at a management level in meetings, as agreed with PAC or other relevant parliamentary standing committees from time to time (Question 143)
• Implementing an audit engagement communication strategy as part of the audit process (Question 152)
• Implementing a regular engagement communication process with relevant experts during the audit process (Question 153)
• Ensuring a percentage of implemented audit recommendations (for all types of audits) after two (2) years is.... (Question 171)
• Stating the number of financial (regularity) audits the SAI completed during 2022 (Question 175)
• Stating the total number of financial (regularity) audits the SAI is mandated to execute (Question 176)
• Stating the number of financial (regularity) audits not completed in the prescribed timeframe (Question 177)
• Stating the number of compliance audits the SAI completed during 2022 (Question 178)
