ISSAI Executive Summaries
ISSAI 5220 – Guidelines on Best Practice for the Audit of Public/Private Finance and Concessions
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.
Level 4: Specific Auditing Guidelines - Guidelines on Privatisation
Heads and Audit Directors of SAIs, External Governmental Auditors, Internal Auditors
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.
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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
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.
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INTOSAI Working Group on the Audit of Privatisations
Revised version approved at XIXth Congress of INTOSAI, Mexico 2007
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