Session 11: Public Sector Auditing
Presenters : Bronwyn MacCallum , Caryn Maitland CA(SA)
Overview
Governments have a responsibility to provide services to the citizens of a country, to protect and grow the country’s resources and to ensure the creation and maintenance of generational capital for future generations.
As opposed to the private sector, the laws and regulations that govern the financial management of public funds require that actions are only taken by government if they are compliant with prescripts. The public sector's service delivery mandate is a complex, multi-faceted concept that is dependent on many variables. To add to this complexity, it is unfortunate that most public servants do not understand that their day to day activities either serve to identify risks, or to manage them through internal controls, policies and procedures.
In this webinar we take a look at auditing of public sector entities. Our topics will cover relevant legislation, INTOSAI, as well as a detailed look at the AGSA.
Learning objectives
By the end of this webinar the attendee should:
- Understand INTOSAI and the Lima Declaration;
- Understand the Public Audit Act;
- Understand the constitutional mandate, independence, and structure of the Auditor General of South Africa.
- Understand the standards applicable to and the reports issued for audits of public sector entities; and
- Understand the audits performed by the AGSA and the AGSA’s reporting processes.
Content
The webinar will cover the following topics:
- INTOSAI and the Lima Declaration.
- Constitutional Mandate of the Auditor General.
- The Public Audit Act.
- The Auditor General of South Africa:
- Structure.
- Mandate.
- Independence.
- Audits performed by the AGSA.
- The AGSA’s reporting processes.
- Audit Standards:
- Applicable to financial audits.
- Applicable to performance audits.
- Applicable to compliance audits.
- Audit reports for different audit types.
- How the AGSA reports on internal controls.
