Question 97

What type of audits (compliance, financial, or performance) has the Supreme Audit Institution (SAI) conducted and made available to the public?
 * a. The SAI has conducted all three types of audits (compliance, financial, or performance) and made them available to the public.
 * b. The SAI has conducted two of the three types of audits, and made them available to the public.
 * c. The SAI has conducted one of the three types of audits, and made them available to the public.
 * d. The SAI has not conducted any of the three types of audits, or has not made them available to the public.
 * e. Not applicable/other (please comment).

OBS Guidelines
Question 97 asks about the types of audits conducted by the Supreme Audit Institution (SAI). There are three basic types of audits: Financial and compliance audits are more common than performance audits, which usually occur only once a performance framework has been agreed upon. In some countries, the SAI’s mandate limits the type of audit it can conduct.
 * Financial audits are intended to determine if an entity’s financial information is accurate (free from errors or fraud) and presented in accordance with the applicable financial reporting and regulatory framework. See ISSAI 200 for more detail.
 * Compliance audits look at the extent to which the relevant regulations and procedures have been followed. See ISSAI 400 for more details.
 * Performance audits assess whether activities are adhering to the principles of economy, efficiency, and effectiveness. See ISSAI 300 for more details.

To answer “a,” the SAI must have conducted all three types of audit — financial, compliance, and performance — and made all of them available to the public. A “b” response applies if the SAI has conducted two of the three audit types, and a “c” applies if it has conducted only one type of audit. Answers “b” and “c” may be selected even if the Audit Report is not publicly available, as long as the SAI has conducted compliance or performance audits and made them available to the public. A “d” response applies if the SAI has not conducted any of the three types of audits, or has not made them available to the public.

External references

 * ISSAI Fundamental Auditing Principles