Working Group on Public Debt Progress Report 6th Meeting of the Steering Committee of the INTOSAI Committee on the Knowledge Sharing and Knowledge Services (Goal 3) Cairo, Egypt October 14 and 15, 2014

2014 meeting WGPD | 2 Seoul October 22-24, participants IDI + 19 member SAIs World Bank (observer)

WGPD | 3 PSC Timeframe: Revision: ISSAIs Impact: ISSAIs  KSC ISSAIs Harmonization Project Relevance to KSC

WGPD | 4 ISSAIs Harmonization Project Criteria for the revision of WGPD ISSAIs 1. Are the ISSAIs and INTOSAI GOV still useful? 2. Do they need to be updated? In what respects? 3. Do the Working Group’s ISSAIs need to be harmonized with other WGPD products? 4. Do Working Group’s ISSAIs need to be aligned with the ISSAIs ? 5. Do Working Group’s ISSAIs need to be aligned with the general ISSAI terminology?

WGPD | 5 PSC: ISSAIs Harmonization Project WG members: Periodic Revision Selected WG members: Revision WGPD: Preliminary revision Permanent Review frequency at least every 5 years Finalized Concluded ISSAIs Harmonization Project

WGPD | 6 Investigation Themes Strategic Plan - Objectives To prepare and publish guidelines and other material to be used by SAIs in order to encourage the proper reporting and sound management of public debt to identify key issues for the development of responsibilities and procedures for auditing and evaluating public debt commitments to prepare papers examining matters on public debt definition, reporting and assessment

ASF | 7 Evaluation of Information Systems related to Public Debt Management Brazil Origin: 2009, Kyiv –To encourage the proper reporting and sound public debt management Work Team: –Brazil, Chile, Moldova, Zambia Sections: –Planning, –General Controls, –Application controls.

ASF | 8 Evaluation of Information Systems related to Public Debt Management Brazil XXII INCOSAI ISSAI 5450 INTOSAI Second round? INTOSAI July 1 – October 1, 2013 PSC CommentsNomenclature KSC May 2013 WGPD 2012 Subject to Due Process Current implementation –Coordinated Parallel Audit of PDM Information Systems Work Plan developed for a Guidance of Auditing on Public Debt Information Systems

ASF | 9 Public Debt Management Office Mexico XXII INCOSAI INTOSAI GOV INTOSAI Exposure for comments PSC KSC Feedback WGPD Origin: Nadi, 2008 Work Team: –Bulgaria, [Canada], Fiji, Mexico [UK], Zambia Subject to Due Process –Comments by WG and IADB –Feedback by KSC + US GAO –Ready for exposure

ASF | 10 Concept Framework of Coordinated Parallel Audit of PDM Information Systems Ukraine Work Plan: Objective: –To assess the appropriate implementation of management and control process in relation to the efficiency of Public Debt Management National Information Systems Target: –Entities responsible for PDM information systems. 11 SAIs involved Meetings: –2013: Kyiv, Ukraine –2014: Chisinau, Moldova Reference: –Guide for Auditing Public Debt Management (outcome of the IDI Trans- regional Program) –Guidance of Auditing on Public Debt Information System (ISSAI 5450)

ASF | 11 Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI First Trans-Regional Programme –IDI-WGPD Trans-regional Programme on Public Debt Management Audit, 2008 – –29 SAIs completed the Programme Activities (69/80 participants) from AFROSAI-E, AFROSAI-F, ASOSAI, EUROSAI, ARABOSAI and PASAI –“Auditing Public Debt Management Guide”  It provides practical audit procedures, questions and tools to assist auditors in conducting audits on nine specific public debt management topics.

ASF | 12 Global Capacity Development Program Strengthening Public Oversight and Audit Sovereign Lending and Borrowing Legal Framework IDI Work Plan: –Joint effort: MFA, WGPD,UNCTAD & IDI Objective: –“to strengthen the professional and institutional capacity of participating SAIs in conducting in-depth and effective audit of lending and borrowing frameworks, which in turn would result in influencing effective sovereign lending and borrowing practices”

Exchange of experience and knowledge In-person meetings Best practice studiesChallenges faced Innovative methodologies and new developments Website Virtual spaceParadigmatic AuditsRelevant audit reports WGPD | 13

Cooperation with other INTOSAI bodies IDI World Bank UNITARUNCTADOECD WGPD | 14

. WGPD | 15 Revision of the WGPD Strategic Plan

ASF | 16 Revision of the WGPD Strategic Plan The discussion started during a meeting held in 2012 The Working Group Strategic Plan wouldn’t require a further development The Working Group Strategic Plan needs an update on current INTOSAI themes The validity of the Organization plan valid until 2016 should be revised

Impact of the Working Group on the INTOSAI community ASF | 17 A second Survey on the Impact of the Working Group on the INTOSAI community was applied The first exercise was conducted in 2005 The survey is a useful input to strategically focus the efforts of the Working Group

Motions for endorsement ASF | 18 To take note of the Working Group’s annual report. To take note of the development of the draft ISSAI 5450 “Guidance on Auditing Public Debt Information System”, that will be presented in the 2016 INCOSAI for its final approval. To take note of the development of a potential INTOSAI GOV “Public Debt Management Office”, that will be subject to the PSC Due Process and would be presented in the 2016 INCOSAI for its final approval. To allow the Working Group’s Chair to submit to the Chair of the KSC Steering Committee a complementary report after its annual meeting, to be held on October 22-24, 2014 in Seoul, Korea.

Working Group on Public Debt Progress Report 6th Meeting of the Steering Committee of the INTOSAI Committee on the Knowledge Sharing and Knowledge Services (Goal 3) Cairo, Egypt October 14 and 15, 2014