CIPFA/IMFODevelopment Programme for Internal Auditors

IMFO Indaba

April 2015 Durban

Dr Adrian Pulham

Executive Director

CIPFA

CIPFA, an introduction

• Professional body for public sector accountants and auditors

• PSIA standard setter in the UK

• Provides certification for members in public audit bodies around the world

• Founder member of IFAC

• Working closely with IIA

• Working closely with INTOSAI

Effective PSIA – key components

CIPFA’s Advocacy Strategy

Strategic Theme 4

Development partners include PSIA in PFM capacity building projects

Strategic Theme 1

Appropriate PSIA standards

Strategic Theme 2

The value of PSIA recognised, respected and required

Strategic Theme 3

PSIA essential to PFM reform

Code of Practice for PSIA

Scope of PSIA

Independence

Ethics

Audit planning

Performance

Enhanced Systems Based PSIA

Internal control

COSO based

Systems testing

Procurement Audit

Holistic approach

Risk based

Contract audit

Fraud audit

VFM audit

Best practice

Auditing Standards

Based on the International

Auditing and Assurance

Standards Board

guidance and standards

Audit Committees

Often required by law

Enhance public trust

Independent

Central part of good

governance

Internal Audit manual

Framework for the HIA

Revised standards

Written by practitioners

Students and new staff

Member Support

CIPFA Audit Panel

Role of the Chief

Internal Auditor

Consulting the profession

Conclusion

• Effective PSIA requires– Standards– Professional internal auditors– Greater capacity– Professional support and development

Level 1, the Certificate

• Internal Audit Fundamentals

• Public Sector Accounting and Financial Reporting

• Governance and Control

Level 2, the Diploma

• Advanced Internal Auditing

• Auditing Management Performance

• Managing the Internal Audit Function

Benefits to you

• Professional recognition

• CIPFA Affiliate Membership

• Publications

• Audit panel involvement

• CPD

• Branch Activities

• Management Direct

• Further partnership working with IMFO