Working Group on Public DebtProgress Report

6th Meeting of the Steering Committee of the INTOSAI Committee on the Knowledge Sharing

and Knowledge Services (Goal 3)Cairo, Egypt

October 14 and 15, 2014

2014 meeting

WGPD | 2

Seoul October 22-24, 2014

38 participants

IDI + 19 member SAIs

World Bank (observer)

WGPD | 3

PSC Timeframe:

2010-2013

Revision:

ISSAIs 100-4999

Impact:

ISSAIs 5000-5999 KSC

ISSAIs Harmonization ProjectRelevance to KSC

WGPD | 4

ISSAIs Harmonization ProjectCriteria for the revision of WGPD ISSAIs

1. Are the ISSAIs and INTOSAI GOV still useful?

2. Do they need to be updated? In what respects?

3. Do the Working Group’s ISSAIs need to be harmonized with other WGPD products?

4. Do Working Group’s ISSAIs need to be aligned with the ISSAIs 100-4999?

5. Do Working Group’s ISSAIs need to be aligned with the general ISSAI terminology?

WGPD | 5

PSC: ISSAIs Harmonization

Project

WG members: Periodic Revision

Selected WG members: Revision

WGPD: Preliminary

revision

Permanent

Review frequency at least every 5 years

Finalized

Concluded

ISSAIs Harmonization Project

WGPD | 6

Investigation ThemesStrategic Plan - Objectives

To prepare and publish guidelines and other material to be used by SAIs in order to encourage the proper reporting and sound management of public debt

to identify key issues for the development of responsibilities and procedures for auditing and evaluating public debt commitments

to prepare papers examining matters on public debt definition, reporting and assessment

ASF | 7

Evaluation of Information Systems related to Public Debt ManagementBrazil

• Origin: 2009, Kyiv– To encourage the proper

reporting and sound public debt management

• Work Team:– Brazil, Chile, Moldova,

Zambia

• Sections:– Planning,– General Controls,– Application controls.

ASF | 8

Evaluation of Information Systems related to Public Debt ManagementBrazil

XXII INCOSAIISSAI 5450

INTOSAISecond round?

INTOSAIJuly 1 – October 1, 2013

PSCComments Nomenclature

KSCMay 2013

WGPD2012• Subject to Due Process

• Current implementation– Coordinated Parallel Audit of

PDM Information Systems

• Work Plan developed for a Guidance of Auditing on Public Debt Information Systems

ASF | 9

Public Debt Management OfficeMexico

XXII INCOSAIINTOSAI GOV

INTOSAIExposure for comments

PSC

KSCFeedback

WGPD• Origin: Nadi, 2008

• Work Team:– Bulgaria, [Canada], Fiji,

Mexico [UK], Zambia

• Subject to Due Process– Comments by WG and

IADB– Feedback by KSC + US

GAO– Ready for exposure

ASF | 10

Concept Framework of Coordinated Parallel Audit of PDM Information SystemsUkraine

• Work Plan: 2014-2015• Objective:

– To assess the appropriate implementation of management and control process in relation to the efficiency of Public Debt Management National Information Systems

• Target:– Entities responsible for

PDM information systems.

• 11 SAIs involved• Meetings:

– 2013: Kyiv, Ukraine– 2014: Chisinau, Moldova

• Reference:– Guide for Auditing Public

Debt Management (outcome of the IDI Trans-regional Program)

– Guidance of Auditing on Public Debt Information System (ISSAI 5450)

ASF | 11

Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI

• First Trans-Regional Programme

– IDI-WGPD Trans-regional Programme on Public Debt Management Audit, 2008 – 2011.

– 29 SAIs completed the Programme Activities (69/80 participants) from AFROSAI-E, AFROSAI-F, ASOSAI, EUROSAI, ARABOSAI and PASAI

– “Auditing Public Debt Management Guide” It provides practical audit procedures, questions and tools to assist auditors in conducting audits on nine specific public debt management topics.

ASF | 12

Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI

• Work Plan: 2013 - 2016– Joint effort: MFA, WGPD ,UNCTAD & IDI

• Objective:– “to strengthen the professional and institutional capacity

of participating SAIs in conducting in-depth and effective audit of lending and borrowing frameworks, which in turn would result in influencing effective sovereign lending and borrowing practices”

Exchange of experience and knowledge

In-person meetings

Best practice studies Challenges facedInnovative

methodologies and new developments

WebsiteVirtual space Paradigmatic Audits Relevant audit reports

WGPD | 13

Cooperation with other INTOSAI bodies

IDIWorld Bank

UNITARUNCTAD

OECD

WGPD | 14

.

WGPD | 15

Revision of the WGPD Strategic Plan

ASF | 16

Revision of the WGPD Strategic Plan

The discussion

startedduring a meeting

held in 2012

The Working Group

Strategic Plan wouldn’t require a further

development

The Working Group

Strategic Plan needs an update on current INTOSAI themes

The validity of the

Organization plan valid until 2016 should be

revised

Impact of the Working Group on the INTOSAI community

ASF | 17

• A second Survey on the Impact of the Working Group on the INTOSAI community was applied

• The first exercise was conducted in 2005

• The survey is a useful input to strategically focus the efforts of the Working Group

Motions for endorsement

ASF | 18

To take note of the Working Group’s annual report.

To take note of the development of the draft ISSAI 5450 “Guidance on Auditing Public Debt Information System”, that will be presented in the 2016 INCOSAI for its final approval.

To take note of the development of a potential INTOSAI GOV “Public Debt Management Office”, that will be subject to the PSC Due Process and would be presented in the 2016 INCOSAI for its final approval.

To allow the Working Group’s Chair to submit to the Chair of the KSC Steering Committee a complementary report after its annual meeting, to be held on October 22-24, 2014 in Seoul, Korea.

Working Group on Public DebtProgress Report

6th Meeting of the Steering Committee of the INTOSAI Committee on the Knowledge Sharing

and Knowledge Services (Goal 3)Cairo, Egypt

October 14 and 15, 2014