What is it?A number of parallel initiatives are driving an increased focus on the development of effective audit regimes in the public and private sectors worldwide. These include: - a greater awareness of the need for transparency and accountability in the PFM cycle, including receipt of revenues and the allocation and expenditure of public funds, and the role which a Supreme Audit Institution (SAI) should play in ensuring value-for-money at all stages of the process
- a trend by the international donor community away from project-based aid and towards Direct Budgetary Support – further emphasising the regulatory and oversight role played by SAIs
- an increasing convergence in both the auditing and accounting spheres between international standards of public and private sector policy and practice.
What we do As one of the leading international audit and accountancy networks, PKF has been at the forefront of these developments. In the UK in particular, both the public audit bodies (the National Audit Office and the Audit Commission) routinely outsource audits of public sector organisations to private sector accounting practices. In recent years PKF has undertaken more than 50 such public sector audits, acting on behalf of these two organisations. Building on its leading-edge audit expertise in the UK, IPG has successfully transferred this body of knowledge and expertise to clients in developing nations and transition economies around the world, gaining a reputation for the sustainable implementation of sensitively modified international best practice. We offer advisory services, capacity building and training in: - INTOSAI-compliant public sector external audit
- public internal financial control
- public and private sector internal audit
- private sector International Auditing Standards (IAS)
- International Financial Reporting Standards (IFRS).
Why PKF? We draw on a combination of former public sector practitioners and experienced audit professionals to provide tailored advisory and capacity building support to governments and public and private enterprises. Click here to see a selection of our recent international experience in Internal and external audit. Our team Our in-house expertise includes:
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