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The transformation of approaches to public auditing and the importance of analyzing the systemic causes of violations and risks were discussed during the roundtable discussion titled “When Methodology Is Not Enough: From Inspection to Auditing Thinking, which took place on May 15.
This is the tenth event in a series of thematic roundtables for external and internal auditors, organized with the support of Component 5, “External Audit and Parliamentary Oversight,” of the EU4PFM Project.
The meeting brought together the leadership and state auditors of the Accounting Chamber, representatives of the State Audit Service of Ukraine, the Verkhovna Rada of Ukraine, the Cabinet of Ministers of Ukraine, the Institute of Internal Auditors of Ukraine, as well as other ministries and agencies.
During the discussion, Olha Pishchanska, Chairwoman of the Accounting Chamber, emphasized that modern auditing must go beyond the assessment of individual facts or transactions and focus on analyzing the effectiveness of management systems.
“It is important to evaluate more than just individual facts and transactions. We must identify the root causes of problems and the factors that contribute to them, precisely in order to improve systems and create conditions that prevent or mitigate the risk of violations,” said Olha Pishchanska.
In this context, the Chairwoman of the Accounting Chamber emphasized the importance of coordination between external and internal audits, noting that high-quality internal audits form the foundation for establishing robust risk management systems, while external audits provide an independent assessment of the effectiveness of these systems.
Inguna Sudraba, Team Leader of Component 5 of the EU4PFM Project, noted during the discussion that developing an audit mindset enables one to assess processes comprehensively and analyze the root causes of problems.
During the roundtable, participants discussed the practical aspects of developing public financial control and risk management systems, the importance of proactively implementing audit recommendations, and the coordination of financial control bodies.
The event also included a panel discussion during which participants focused on practical approaches to evaluating internal control systems, differences between external and internal audits, and other related topics.
It should be noted that during previous roundtables, participants also discussed the impact of external and internal audits on the development of internal controls in public institutions, as well as the strengthening of cooperation between external and internal audits.
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