Presentation by the Accounting Chamber of Ukraine – Parallel Audit Coordinator

Presentation by the Accounting Chamber of Presentation by the Accounting Chamber of Ukraine – Parallel Audit CoordinatorUkraine – Parallel Audit Coordinator

Progress ReportProgress Reporton the Initiative: Concept Framework of on the Initiative: Concept Framework of

Coordinated Parallel Audit of Public Debt Coordinated Parallel Audit of Public Debt Management Information SystemsManagement Information Systems

Annual Meeting of the INTOSAI Working Group on Public DebtAnnual Meeting of the INTOSAI Working Group on Public Debt22-24 October 2014, Seoul, Korea22-24 October 2014, Seoul, Korea

Debt management – the process of managing government’s debt to meet financing needs

Public Debt Management Information System (PDMIS):- combination of software, hardware, people and communication to support debt portfolio

- integrated tool for recording, monitoring, analyzing and reporting public debt

- source for periodic statistical and financial reports about state of public debt

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PrefacePreface

22-24 October 2014, Seoul, Korea22-24 October 2014, Seoul, Korea

In 2012 SAI of Ukraine initiated to carry out a parallel audit of PDMIS

Focus on INTOSAI WGPD Strategic Goal 1 – Enhancement of SAIs expertise through investigation and knowledge sharing of Public Debt Auditing

Concept Framework of Parallel Audit was endorsed at WGPD meeting in September 2012 in Helsinki, Finland

12 interested SAIs (including Mexico and Ukraine)

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Preface (contd)Preface (contd)


Audit objectives are to assess whether:

- management and control processes of PDM Information System are in place

- information system has adequate general and application controls

Assessment of efficiency of PDM Information System - performance audit

Parallel audit means that SAIs adopt the same audit goals and jointly set out audit criteria

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Audit ObjectiveAudit Objective


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Kick-off Meeting Kick-off Meeting April 2013, Kyiv, UkraineApril 2013, Kyiv, Ukraine


Welcomed by Chairman of

Ukrainian SAI

Over 30 participants

9 SAIs presented

discussed organizational and methodological aspects of the parallel audit

familiarized with practices of public debt management and audit in different countries

shared experience on approaches applied in evaluation of information systems

adopted the Common Parallel Audit Programme, joined into force as of May 2013

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Kick-off Meeting (contd)Kick-off Meeting (contd)


related work plan of parallel audit was supported by WGPD in Santiago, Chile in May 2013

entered into cooperation with the EUROSAI IT Working Group in July 2013

presentation of parallel audit was submitted for consideration of EUROSAI ITWG at IT Symposium held in March 2014 in Potsdam, Germany

State Audit Office of Georgia joined the parallel audit project

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Additional OverturesAdditional Overtures


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Mid-Term MeetingMid-Term MeetingApril 2014, Chisinau, MoldovaApril 2014, Chisinau, Moldova


President of SAI Moldova

Host

10 delegations

8 participating SAIs

UNCTAD invited experts

SAI Ethiopiaspecial guest

UNCTAD presented the debt management and financial analysis (DMFAS) programme

Participating SAIs reported on preliminary study results at national level

SAI Ethiopia shared PDMIS Audit Report pursuant to INTOSAI standards

SAI Brazil introduced updated draft Guidance on Auditing of Public Debt Information System (ISSAI 5450)

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Mid-term Meeting (contd)Mid-term Meeting (contd)


Information system is integral part of organization Auditors should be aware of PDMIS type installed

and its functionality In some countries debt information is managed by

multiple debt management units using different software

Most participating countries experienced DMFAS, other deploy CS-DRMS or home-grown IS

Principal shortcomings directly relate to lack of clear evidence-based concepts of PDMIS building

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Lessons LearnedLessons Learned


Carrying out principal audit testing phase at national level – from April to September 2014

Summarization of all major audit observations and findings – October 2014

Completing national audit reports and summaries – by 31 October 2014

Due care of confidentiality, avoid unauthorized disclosure of data

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Work ForwardWork Forward


Summaries of national reports complement Joint Parallel Audit Report to be prepared by the SAI of Ukraine by the end of 2014

Collecting comments and amendments to the draft Joint Parallel Audit Report – 1-st Quarter 2015

Wrap-up meeting is planned to be held on March 17-18, 2015, in Tbilisi, the Republic of Georgia

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Work Forward (contd)Work Forward (contd)


Participating SAIs will be requested to pass a ceremony of approval the final Joint Report on Coordinated Parallel Audit of Public Debt Management Information Systems

The Accounting Chamber of Ukraine will pursue to inform the INTOSAI Working Group on Public Debt about final results of the parallel audit

Thank you ! Thank you !

Presentation by the Accounting Chamber of Ukraine – Parallel Audit Coordinator

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