Part 6: Contributing to the international auditing community and development of accounting and auditing standards

Annual Plan 2011/12.

We make a significant ongoing contribution to the international auditing community. For example, we provide input to the development of accounting and auditing standards and to improving the quality of public sector auditing in the Pacific and beyond.

We take part in a range of national and international organisations, forums, and working groups, which develop guidance and standards for the auditing and accounting professions, and provide advice to public sector practitioners. These groups include:

  • the Accounting Standards Review Board;
  • the Professional Standards Board of the New Zealand Institute of Chartered Accountants;
  • the Financial Management Working Party of the Society of Local Government Managers; and
  • the International Organisation of Supreme Audit Institutions (INTOSAI).

In particular, in 2011/12, we will be focusing on work with:

  • The Pacific Association of Supreme Audit Institutions (PASAI): PASAI is the official association of supreme audit institutions (government Audit Offices and similar organisations) in the Pacific region. PASAI is one of the regional working groups belonging to INTOSAI. As the current Secretary-General of PASAI, New Zealand's Auditor-General provides leadership and guidance to the Secretariat in carrying out PASAI's long-term strategic plans and work programmes, and advises the PASAI Congress and the Governing Board. The strategic goals of PASAI are to:
    • strengthen regional co-operation and co-ordination;
    • build and sustain public auditing capability;
    • conduct co-operative financial and performance audits; and
    • strengthen communication, and advocate transparency and accountability.
  • The Accounting Standards Review Board: The Board has decided to adopt two sets of accounting standards for New Zealand, which is likely to mean public sector standards will be based on International Public Sector Accounting Standards (IPSAS) in future. However, there is still a lot of work to do to arrive at the right set of financial reporting standards for the public sector in New Zealand. We will be working to make a positive contribution to applying these new standards, and to participating in the standard-setting process. We are keen to ensure that changes to the standards are applied smoothly and sensibly for the New Zealand public sector context.
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