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Executive Summary:

ISSAI 5220 – Guidelines on Best Practice for the Audit of Public/Private Finance and Concessions

Purpose:

ISSAI 5220 is a set of guidelines on best practice for the audit of public-private finance and concessions providing a logical framework for SAIs wishing to merit these agreements.

ISSAI Category:

Level 4: Specific Auditing Guidelines - Guidelines on Privatisation

Target Group:

Heads and Audit Directors of SAIs, External Governmental Auditors, Internal Auditors

Principle:

This document aims to cover all the issues potentially involved in public-private finance and concession deals. This approach typically involves public sector clients specifying goods and services they wish to purchase and, through competition, selecting private sector suppliers to provide them.

The guidelines are based on the results of the Working Group on the Audit of Privatisation firstly published in 2001 and provide an update to the version in light of experience and new developments particularly in auditing the operational phase of contracts.

Scope - Content:

The guidelines should be regarded as suggestions and advice and must be applied in the context of the country.

The Standard provides 43 guidelines grouped in six sessions relating to

  • The general approach of the SAI,
  • Scoping the project,
  • Project management,
  • Tendering,
  • The right contract and
  • The operational phase.

Each guideline has been drawn up in a format designed to bring out the reasoning and experience underlying it. To this end there are two parts of each guideline – the guideline itself and the reasons for the guideline.

Author - Committee:

INTOSAI Working Group on the Audit of Privatisations

Status:

Revised version approved at XIXth Congress of INTOSAI, Mexico 2007

Download:

http://www.issai.org/en_us/site-issai/issai-framework/4-auditing-guidelines.htm

Related Documents - Executive Summaries:

ISSAI 5210 – Guidelines on Best Practice for the Audit of Privatisations

ISSAI 5230 – Guidelines on Best Practice for the Audit of Economic Regulation

ISSAI 5240 – Guideline on Best Practice for the Audit of Risk in Public/Private Partnership (PPP)

Related Documents - ISSAI Full Versions:
Related Documents - Others:

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