The State Audit Office introduces the international practice of strengthening the auditors' abilities in the audit of the consolidated financial statement of the government.
World Bank invited experts Wayne Bartlett and Zurab Mamukelashvili are visiting the State Audit Office for the EU "Economic Governance and Fiscal Accountability Program" technical support project.
World Bank specialists and auditors discussed the processes of developing the audit plan and program for the audit of consolidated financial statement of the government.
On the first stage of the project, the SAO auditors participated in the training of IPSAS, audit of consolidated financial statement and quality management of financial audit, tax revenue audit planning, and risk assessment. In addition, the SAI of Latvia as one of the leading SAI in the audit of consolidated financial statement shared with SAO its experience.
As part of the experts' visit, the representative of the National Audit Office (NAO) of the UK, Helen Jackson, introduced the auditors of the SAO the methodology and practice of auditing the consolidated financial statements in the NAO.
From the next year, SAO will conduct the audit of the consolidated financial statement of the government, the prerequisite of which is the financial audit of tax revenues, is conducting for the second time this year.
"Economic Governance and Fiscal Accountability Program" supports the SAO in two directions to strengthen its professional capabilities.
Supported by the international consulting company EY, 45 auditors and 6 IT audit interns completed the IT audit training course. Two pilot audits are being conducted in the process of which EY experts advise the auditors.
The World Bank also supports the professional development of the auditors through obtaining internationally certificates. In 2023, 11 auditors were certified after completing the INTOSAI Development Initiative - IDI one-year professional education program (PESA). The second phase of the project is currently underway.
