ECIIA and the European Organisation of Supreme Audit Institutions (EUROSAI) have published a document that compares the structure and goals of their respective professions, providing a blueprint for better collaboration between the bodies.
The study – Comparison of supreme audit institution organisations and internal audit institution organisations – details key facts about each body in an easy-to-use format. Areas of comparison include professional standards, certifications, the scope of activity for each type of auditor, along with the institutions’ organisational structures, key stakeholders and external partners.
“We have always understood that there are similarities between the two audit professions,” says ECIIA President Thijs Smit, “But by mapping them in this detailed way, we now have a better grasp of the areas in which we can cooperate effectively.”
While supreme audit institutions are external auditors and tend to focus more on financial management in public bodies, they often rely on the work of internal auditors at the organisations they audit. By sharing knowledge and working practices, the bodies hope to improve the effectiveness of both corporate governance and their own audit work.
EUROSAI (European Organisation of Supreme Audit Institutions) is one of the regional groups of the International Organisation of Supreme Audit Institutions (INTOSAI). This Organisation groups together 192 member supreme audit institutions (SAIs). In June, ECIIA and EUROSAI, which groups 50 supreme audit institutions under its aegis, renewed their cooperation agreement. The document set the grounds for how knowledge sharing and consultation on issues important to each body is facilitated.
Read Comparison of supreme audit institution organisations and internal audit institution organisations here.
Read more on the cooperation agreement here.