New Trends in Public Sector Auditing
Fast changing world due to new innovations, technologies, and new aspiration of citizens giving rise to the new issues (Emerging issues). On top of that people face natural and human-caused emergency situations.
Example of Emerging situations - earthquake, fire, flood, epidemic glacier outbreak (climate change), cyber attacks
Example of Emerging Trends - Digitalization, Climate change, SDGs, Gender issues, environmental issues, Big data, increased urbanization and issues emerged of it; solid waste management, Pensions including other social security schemes, citizen engagement in PFM; more importantly in audit, more and effective international cooperation to tackle with issues relating tax evasion, money-laundering and financial crimes , protecting information (security), wide-spread corruption
Impact: these issues disrupt live of citizens (socio-economic and geo-political impacts)
Role of SAI: to remain relevant to the society and the citizen (as stated in ISSAI 12)
• SAI is required to keeps its eyes and ears open all the time with the issues that impact live of citizen.
• So, SAIs are required to respond quickly the issues and situations that pose impact to the live of citizen.
• Realizing the expectation of public and to remain relevant to them, SAIs are required to initiate efforts to be alert all the time with issues and situation impacting lives of citizen.
• Subsequently, based on severity of the issue in hand (through risk assessment), they should select the issue as audit subject.
