Links

Document Search

International Journal

ISSAI Executive Summaries

Executive Summary:

ISSAI 5420 – Public Debt Management and Fiscal Vulnerability: Potential Roles for SAIs

Purpose:

The paper examines the roles that SAIs could possibly play to help reduce fiscal vulnerability of governments and make financial crisis less likely. It is argued that SAIs could promote best practices for debt management, appropriate data disclosure standards as well as sound regulatory regimes for the financial services.

ISSAI Category:

Level 4: Specific Auditing Guidelines - Guidelines on Audit of Public Debt

Target Group:

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

Principle:

The document discusses how through performance audits of debt management practices

  • SAIs may play an active role in protecting the financial condition of government by helping to ensure that sound and robust public debt practices are in place.
  • Moreover, SAIs could encourage governments to focus more on vulnerability monitoring and give high priority to risk management.
Scope - Content:

Key points of the paper are the following:

  • Easier access to capital markets and increased risks
  • Implications of recent financial crises for debt managers
  • Potential roles for SAIs by promoting good principles and practices

Appendices provide further information on following topics:

  • Recent financial crises (Appendix I)
  • Glossary on financial and operational risks (Appendix II)
  • Risk monitoring could include early warning vulnerability indicators (Appendix III)
  • Examples of recent initiatives aimed at improving data disclosure (Appendix IV)
Author - Committee:

INTOSAI Public Debt Committee

Status:

Publication by INTOSAI Public Debt Committee, February 2003

Download:

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

Related Documents - Executive Summaries:

ISSAI 5430 – Fiscal Exposures: Implications for Debt Management and the Role for SAIs

ISSAI 5410 – Guidance for Planning and Conducting an Audit of Internal Controls of Public Debt

ISSAI 5411 – Debt Indicators

ISSAI 5421 – Guidance on Definition and Disclosure of Public Debt

ISSAI 5422 – An Exercise of Reference Terms to Carry Out Performance Audit of Public Debt

ISSAI 5440 – Guidance for Conducting a Public Debt Audit – The Use of Substantive Tests in Financial Audits

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

<< back