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The Accounting Chamber is in the process of implementing the International Standards of Supreme Audit Institutions (ISSAI) and is improving its approaches to sectoral analysis, which is also part of the work planning process of the institution. This was discussed on 5 September during a roundtable discussion on sectoral analysis and information exchange, supported by the EU4ACU project “Strengthening Capacities in External Audit in Line with International Standards in Ukraine”. The discussion was attended by experts from the Accounting Chamber, the State Audit Service of Ukraine, and internal auditors of various executive authorities.
Sectoral analysis is actually a mechanism for implementing a risk-oriented approach to planning, the purpose of which is to establish the real state of affairs in each area that covers one or more areas of the activities of the Accounting Chamber. The sectoral analysis includes the identification and assessment of risks, as well as the development of proposals for possible topics of control measures.
"At the Accounting Chamber, we are currently at the final stage of improving the process of sectoral analysis. Previously, our auditors also planned future activities based on monitoring and analysis of information, but since this year, we have been using a risk-oriented approach and prioritisation in the planning process to get the best decisions on the selection of future audits. This way, we will be able to get the maximum effect for the state using minimal resources,’ the Chairwoman of the Accounting Chamber, Olha Pishchanska, said in her speech.
The Chairwoman of the Accounting Chamber also expressed her opinion on such possible areas of cooperation between the authorities as information exchange, since in the process of conducting sectoral analysis, the Accounting Chamber has to process large amounts of data, some of which are held by other authorities within their competence.
During the roundtable, the auditors of the Accounting Chamber presented examples of two analyses: on education and law enforcement. Later, the participants discussed these approaches in the working groups.
The seventh roundtable on auditor cooperation is the final one within the EU4ACU project, which started in September 2020 and ends at the end of September 2024. The EU4ACU efforts were aimed at strengthening the institutional capacity of the Accounting Chamber to conduct external audits in accordance with ISSAI standards and the development of methodological documents by the Accounting Chamber based on INTOSAI principles and standards, as well as their use in daily work.
