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 FEATURES OF INTOSAI

STANDARD SETTING

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!