Working Group on Public Debt

Progress 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

Seoul October 22-24, 2014

38 participants

IDI + 19 member SAIs

World Bank (observer)

WGPD | 2
ISSAIs Harmonization Project
Relevance to KSC

PSC Timeframe:
2010-2013
Revision:
ISSAIs 100-4999
Impact:
ISSAIs 5000-5999  KSC

WGPD | 3
ISSAIs Harmonization Project
Criteria 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 | 4
ISSAIs Harmonization Project

Permanent

Review
frequency at
least every 5
years

PSC: ISSAIs Harmonization Project

Finalized

WG members: Periodic Revision

Selected WG members:
Revision
WGPD:
Concluded
Preliminary
revision

WGPD | 5
 Investigation Themes
Strategic Plan - Objectives

To prepare and
publish guidelines and
other material to be to identify key issues
used by SAIs in order for the development of
responsibilities and to prepare papers
to encourage the examining matters on
proper reporting and procedures for
auditing and public debt definition,
sound management of reporting and
public debt evaluating public debt
commitments assessment

WGPD | 6
 Evaluation of Information Systems related to
Public Debt Management
Brazil
• 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 | 7
 Evaluation of Information Systems related to
Public Debt Management
Brazil
WGPD
2012
• Subject to Due Process
KSC
May 2013
• Current implementation
– Coordinated Parallel Audit of
PSC
PDM Information Systems Comments Nomenclature

INTOSAI
• Work Plan developed for a July 1 – October 1, 2013

Guidance of Auditing on
Public Debt Information INTOSAI
Second round?
Systems
XXII INCOSAI
ISSAI 5450

ASF | 8
 Public Debt Management Office
Mexico

• Origin: Nadi, 2008 WGPD

• Work Team:
KSC
– Bulgaria, [Canada], Fiji, Feedback
Mexico [UK], Zambia
PSC
• Subject to Due Process
– Comments by WG and
IADB INTOSAI
– Feedback by KSC + US Exposure for comments
GAO
XXII INCOSAI
– Ready for exposure
INTOSAI GOV

ASF | 9
 Concept Framework of Coordinated Parallel
Audit of PDM Information Systems
Ukraine

• Work Plan: 2014-2015 • 11 SAIs involved

• Objective: • Meetings:
– To assess the appropriate – 2013: Kyiv, Ukraine
implementation of – 2014: Chisinau, Moldova
management and control
• Reference:
process in relation to the
efficiency of Public Debt – Guide for Auditing Public
Management National Debt Management
Information Systems (outcome of the IDI Trans-
regional Program)
• Target:
– Guidance of Auditing on
– Entities responsible for Public Debt Information
PDM information systems. System (ISSAI 5450)

ASF | 10
 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 | 11
 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”

ASF | 12
 Exchange of experience and
knowledge

Website
Virtual space Paradigmatic Audits Relevant audit reports

In-person meetings
Innovative
Best practice studies Challenges faced methodologies and
new developments

WGPD | 13
 Cooperation with other INTOSAI
bodies

IDI
World Bank
UNITAR
UNCTAD
OECD

WGPD | 14
 .

Revision of the WGPD Strategic Plan

WGPD | 15
Revision of the WGPD Strategic Plan

The validity of
the
The Working Organization
plan valid until
Group 2016 should be
Strategic Plan revised
The Working needs an
Group update on
Strategic Plan current
wouldn’t INTOSAI
The require a themes
discussion further
started development
during a
meeting
held in 2012

ASF | 16
Impact of the Working Group on the
INTOSAI community
• 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

ASF | 17
 Motions for endorsement
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.

ASF | 18
Working Group on Public Debt
Progress 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