The journey of six Supreme Audit Institutions (SAIs) in the three-year-long IDI-ADB initiative, 'Sustainable Performance Audit Practices in Asia and the Pacific,' is forging ahead. SAI teams comprising managers and auditors from Bangladesh, Bhutan, Mongolia, Nepal, Papua New Guinea, and the Philippines convened in Bangkok, Thailand for the 'System of Audit Quality Management' (SoAQM) interactive IDI’s learning course from March 31 to April 4.
This was not your typical workshop. Tasked with establishing quality management systems aligned with the new International Standard on Auditing (ISSAI) 140, 'Quality Management for SAIs,' these teams are stepping up as changemakers in their SAIs. ISSAI 140 champions a new approach that prioritises quality objectives and quality risks, necessitating not just structural and procedural changes but a profound shift in mindset.
The SoAQM professional education offered a deep dive into implementation modalities of ISSAI 140, enabling SAI teams to explore efficient implementation strategies and prepare for the considerable task ahead. By the end of 2025, the goal is to have systems of audit quality management set up by all six SAIs.
IDI's support remains firm and constant. IDI’s ISSAI-140-based Playbook continues to provide a wide spectrum of technical guidance, offering a range of system options tailored to each SAI's unique contexts.
Encouragingly, the six SAIs can draw on the experiences of others. The IDI’s approach to designing quality management systems in line with the new ISSAI 140 has been field-tested through the IDI’s Global Pilot, which involved 12 pioneering SAIs worldwide.
Reflecting on the workshop, one team member commented, "Only after the workshop did we fully realise the scale and urgency of this task." Why the concern? Each SAI is committed to adhering to the ISSAIs in their audits, a commitment reaffirmed in every audit report, whether it be financial, compliance, or performance. To continue making this assertion, compliance with ISSAI 140 is imperative and urgent.
The task is challenging, but the journey begins here. The initial steps for the SAI teams involve grasping new concepts and exploring how these can be applied within their respective SAIs through dynamic discussions. Please watch how these initial steps look in practice for the six SAIs.
IDI is delighted to support these teams on this transformative journey, providing ongoing fit-for-purpose support as each SAI evolves.
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