Date post: | 04-Jul-2015 |
Category: |
Technology |
Upload: | bev-trayner |
View: | 277 times |
Download: | 1 times |
Auditors Registration System
Public Oversight and Quality Assurance Systems WorkshopDecember 15 – 16, 2009
Auditors Registration System
» What is it?
» Why is it necessary?
» How is it done?
» What is the process?
» Issues to resolve
» Discussion points
What is it?
» Listing of Auditors in a Country• Statutory Auditors and Audit Firms• Supports auditor regulation and inspection• May be broader than public interest entity audits and
auditors
» Accessible to public• Electronic form• Accessible on Internet
» Managed by profession and/or regulator
Why is it necessary?
» Statutory Audit Directive of European Parliament
• Operational by June 30, 2009
• Detailed requirements
How is it done?
» Software solution
• Custom development
• Packaged software
What is the process?
» Requirements analysis
» Request for proposal
» Select vendor
» Develop / install and test
Requirements analysis
» Basic requirements• Firms• Individual auditors• Clients (public interest entity)
» Additional requirements• Support auditor regulation and inspection• Support audit professional association “business”• Support auditor training
» Country requirements• Language• Specific legal and other requirements
Opportunity for multi-country solution
» Common core software• Core system to meet common objectives
» Unique country requirements• Additional modules to meet unique country objectives
» Language
» Potential for cost savings?
Request for proposal
» Document to communicate with prospective vendors• Input from professional association• Input from profession regulatory / oversight body
» Detailed enough to enable prospective vendors to understand general requirements• Not as detailed as a system design• Allow vendors to propose a custom or packaged solution
Request for proposal
» Identify evaluation criteria• Core businesses, years in business, financial stability• Qualification, including prior assignments• Technical and managerial capabilities• Qualifications and relevant experience of key staff
» Communicate through World Bank procurement system• Internet• Specific identification of potential vendors
Select vendor
» Influenced by extent of response
» Evaluation of qualifications
» Short list
» Negotiate detailed terms, including price
Develop / install and test
» Detailed involvement of local profession and regulator
» Influenced by extent of “extra” functionality
» If multi-country, which country goes first?• First installation will be a “pilot”• Subsequent installations should be easier and faster
Issues to resolve
» Intellectual property rights
» Maintenance and support
Discussion points
» Commonality of objectives• Compliance with Statutory Audit Directive• Support profession• Support regulator
» Extent of country uniqueness• Size• Language• Organization of profession• Regulator activities
» Advantages and disadvantages• Cost• Timeline• Consistency• Other