michael martindec 16 th,2008 the role of the austrian court of audit (aca) in the system of the...
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Michael MARTIN Dec 16th,2008
The role of the Austrian Court of Audit (ACA) in the system of the public budgeting program
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Michael MARTIN Dec 16th, 2008
OVERVIEW
The public budgeting program
Involved parties
The role of the involved parties
The role of the Austrian court of
audit
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Michael MARTIN Dec 16th, 2008
The public budgeting program
Involved parties
The Austrian government
The Austrian parliament
Stakeholder
The Austrian Court of Audit
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Michael MARTIN Dec 16th, 2008
The public budgeting program
The role of the involved parties
The Austrian government
Planning and creating the budget
Execution of the budget
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Michael MARTIN Dec 16th, 2008
The public budgeting program
The role of the involved parties
The Austrian parliament
Discussing and approving the budget
Monitoring the budget
Deciding consequences for deviations
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Michael MARTIN Dec 16th, 2008
The public budgeting program
The role of the involved parties
Stakeholder
All public institutions and units that are
part of the budgeting program
Planning and Spending
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Michael MARTIN Dec 16th, 2008
The public budgeting program
The role of the involved parties
The Austrian court of audit
Checking the regularity and legality of budget
allocation
Monitoring the budgeting program
Auditing the federal financial statements
Illustrating the budget implementation
Presenting the financial statements to the
parliament
Standard setter for accounting rules
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Checking the regularity and
legality of budget allocation
Legal obligation (Sec 9 Court of Audit Act
1948)
On-sites checks with focus on
Regularity
Legality
Checks only for actual values (but compared
with plan)
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Monitoring the budgeting program
Continuously monitoring during the budget year
Stakeholder have to inform ACA when
overspending
During the actual year:
only information, no commitment through
ACA
But, within the audit report after year end:
Possibility to comment irregular/
illegal overspending
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Auditing the federal financial
statements
Sec 9 Court of Audit Act 1948
Procedure of auditing the federal financial
statements:
Obtaining all financial statements from
ministry of finance
Audit procedure
Communication of errors
Corrections of errors through the
ministry of finance
Preparation of the audit report
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Illustrating the budget
implementation
Part of the audit and the audit report:
Illustrating the budget implementation
Illustrating significant budget deviations
Pointing out errors and system weaknesses
Commenting implemented recommendations of
past periods
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Presenting the financial
statements to the parliament
The financial statements and the audit
report have to be presented to the National
Council, a part of the Austrian parliament
Not later than 30 September of the
subsequent year
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Michael MARTIN Dec 16th, 2008
The role of the Austrian court of audit
Standard setter for accounting rules
Accounting Standard Act 1990 set out by the
ACA
Act does specify:
Structure
Form
Content
of the federal finance statements
Also regulates:
Procedures of error corrections
Documentation
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Michael MARTIN Dec 16th, 2008
The budget system in Austria
Court of AuditChecking / monitoring / presenting
GovernmentPlanning and creating
GovernmentExecution
ParliamentApproving the financial statements
ParliamentApproving the budget
Audit report
Audit of the Financial Statements
Budget PlanBudget