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The benefits and challenges of cooperation between internal and external auditors were discussed on 16 April at the forum "Two Perspectives, One Goal: Promoting Cooperation between External and Internal Audit", organized with the support of the EU4PFM project (the Public Finance Management Support Programme for Ukraine). The event brought together representatives of public institutions, local and international experts.
The Chairwoman of the Accounting Chamber Olha Pishchanska emphasized that the institution had made significant efforts to bring its activities into line with international standards. In particular, the quality control system of the Accounting Chamber has already introduced elements such as cold and hot reviews, which improve of audit work, internal institutional development and self-organization.
"We have many plans for cooperation between all components of the financial control system in Ukraine. This is not just about communication - it is a unified process, and the Accounting Chamber, the State Audit Service and internal audit units are integral parts of it. The efficiency of the whole system depends on how each component is organized and how knowledge and information are shared," said Olha Pishchanska.
She also emphasized that auditors also analyze internal audit data during control measures, and the institution's recommendations serve as a guide for improving internal control systems.
Inguna Sudraba, Team Leader of the EU4PFM component, noted that cooperation between external and internal audit would be effective with the support of both government bodies and financial management. Manfred van Kesteren, International Expert on Public Internal Financial Control of the EU4PFM component "Modernization of the Budget Process", added that both sides receive benefit from this cooperation. Internal auditors can also benefit from the results of external audits.
During the Forum, Soledad Llamas Tutor, Chair of the ECIIA*-EUROSAI Cooperation Committee and Head of Internal Audit (CAE), Risk Management, and Internal Control at Canal de Isabel II (Madrid, Spain), presented the European approach to cooperation between external and internal audit. She presented the results of a survey on the characteristics of such cooperation.
Ingrida Kalniņa-Junga, Head of the Audit Sector at the State Audit Office of Latvia, shared the Latvian experience of cooperation between auditors from different areas, highlighting both the benefits and potential risks.
Cooperation between external and internal auditors is effective at all key stages of their work – and during the audits carrying out, as well as during the planning phase and the implementation of recommendations," summarized Forum moderator Tetiana Borovkova, Head of the Internal Control Coordination Sector of the Accounting Chamber.
*ECIIA - European Confederation of Institutes of Internal Auditing.
