Code of audit practice
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Code ofaudit practicePrepared for the Auditor General and the Accounts CommissionMarch 2007Audit Scotland is a statutory body set up in April 2000 under the Public Finance and Accountability (Scotland) Act 2000. It provides services to the Auditor General for Scotland and the Accounts Commission. Together they ensure that the Scottish Executive and public sector bodies in Scotland are held to account for the proper, efficient and effective use of public funds.1ContentsForewordPage 2Part 1. IntroductionPage 4Part 2. Framework for public sector audit in ScotlandPage 7Part 3. Financial statements andcorporate governance Page 11Part 4. Performance management and auditPage 16Part 5. Reporting the auditPage 19Part 6. Other mattersPage 23Appendix 1. Auditors’ statutory duties for bodies falling within the Auditor General’s remitPage 25Appendix 2. Auditors’ statutory duties for local government bodiesPage 26Appendix 3. Public rights of inspection and objection under the Local Government (Scotland) Act 1973Page 27Appendix 4. Statutory reports under Section 102 of the Local Government (Scotland) Act 1973Page 28Appendix 5. Glossary of termsPage 292ForewordThis revised Code has been prepared by Audit Scotland and approved by the Auditor General and the Accounts Commission to apply to the audits of all bodies within their respective remits. The Code applies to audits for financial years commencing on or after 1 April 2006 ...
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Publié par
Langue
English
Code of audit practice
Prepared for the Auditor General and the Accounts Commission March 2007
Audit Scotland is a statutory body set up in April 2000 under the Public Finance and Accountability (Scotland) Act 2000. It provides services to the Auditor General for Scotland and the Accounts Commission. Together they ensure that the Scottish Executive and public sector bodies in Scotland are held to account for the proper, efficient and effective use of public funds.
Contents
Foreword Page2
Part1.Introduction Page4
Part2.Frameworkforpublicsector auditinScotland Page7
Part3.Financialstatementsand corporategovernance Page11
Part4.Performancemanagement andaudit Page16
Part5.Reportingtheaudit Page19
Part6.Othermatters Page23
Appendix1.Auditors’statutory dutiesforbodiesfallingwithinthe AuditorGeneral’sremit Page25
Appendix2.Auditors’statutory dutiesforlocalgovernmentbodies Page26
Appendix3.Publicrightsof inspectionandobjectionunder theLocalGovernment(Scotland) Act1973 Page27
Appendix4.Statutoryreports underSection102oftheLocal Government(Scotland)Act1973 Page28
Appendix5.Glossaryofterms Page29
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Foreword
ThisrevisedCodehasbeenpreparedbyAuditScotland andapprovedbytheAuditorGeneralandtheAccounts Commissiontoapplytotheauditsofallbodieswithintheir respectiveremits.TheCodeappliestoauditsforfinancialyears commencingonorafter1April2006.
ThefirstCodeofAuditPractice(the Code)preparedbyAuditScotland wasissuedinJuly2001.Sincethen therehavebeendevelopmentsin legislation,auditingstandardsand auditingapproacheswhichmakeit appropriatetoreviseandrefresh theCode. ThisrevisedCodehasbeenprepared byAuditScotlandandapproved byneralandthehteuAidotreG AccountsCommissiontoapplyto theauditsofallbodieswithinour respectiveremits. TherevisedCoderetainsthe emphasisonthecommonfeatures ofpublicauditacrossScotland, whilerecognisingthatthereare stilldifferencesintheunderlying statutoryframeworks. TheCodecontainsanewsection settingoutthebasicprinciplesthat governallauditworkandstresses theneedforallauditorstorecognise thelinksbetweendifferentpartsof theaudit.TheCodealsoemphasises thedofneenoworrskitditorau partnershipwitheachotherand withAuditScotlandtodeliveran integratedauditwhichprovides addedvaluetoauditedbodies.Over thefiveyearsthatthepreviousCode wasineffectAuditScotlandandthe appointedauditorshavebenefited fromworkingmorecloselytogether. Weexpecttoseefurtherbenefits inthefuturefromgreatersharingof informationanddiscussionofrisks andissuescommontothewhole,or apart,ofthepublicsector. OtherchangestotheCodeinclude reflectingtheLocalGovernment inScotlandAct2003,which introducedthestatutorydutyof BestValueforlocalgovernment, andtheintroductionofInternational StandardsonAuditing(UKand Ireland)toreplaceStatementsof AuditingStandards.
InapprovingtherevisedCode,we believethatauditscarriedoutin accordancewiththestatedbasic principleswillhelpustomeetour jointobjectivesofensuringahigh standardofstewardshipofpublic fundsandpromotingBestValuein theuseofresources.
RobertWBlack AuditorGeneralforScotland
AlastairMacNish Chairman, AccountsCommissionforScotland
March2007
Foreword
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4 Part1.Introduction
Publicbodies 1.icblpurfoeblisnopseresohT businessandhandlingpublic moneymustbeheldaccountable, inaccordancewiththelawand properstandards,tothosewho useandpayfortheservices provided.Publicresourcesshould besafeguarded,properlyaccounted forandusedeconomically,efficiently andeffectively.Publicbodies, includingAuditScotland,are increasinglyexpectedtooperate withintheprinciplesofBestValue, whichmeanstheachievementof continuousimprovementinthe deliveryoftheirfunctions.This includes,amongotherthings,having regardtotheconceptsofeconomy, efficiencyandeffectivenessand theneedtomeetequalopportunity requirements,andcontributingto theachievementofsustainable development. 2.ies,bodblicPudutignAulidicn Scotland,alsohavestatutoryduties topromoteequalopportunitiesand diversityinthecourseoftheirwork.
3.Indaidog,noittnemnrevyicolp expectsthedeliveryofmore responsiveandhigherquality publicservicesthatareintegrated, user-orientatedandfocusedon outcomes.Thisrequiresa‘whole systems’approachtoperformance managementandmayinvolve partnershipswithotherorganisations inthepublicandprivatesectors. Thesearrangements,whichtypically involvenewwaysofworking,have implicationsforthesafeguardingand stewardshipofpublicresources. 4.lecesr,etdshtiotScteisinmehT members,governingbodies,boards, accountableofficers,managersand officialshaveprimaryresponsibility forensuringthatpublicbusiness isconductedinaccordancewith thelawandproperstandards,and thatpublicmoneyishandledwith integrityandspentappropriately. Publicbodiesandthoseresponsible forconductingtheiraffairsmust dischargethisaccountabilityby establishingandmaintaining propergovernancearrangements andeffectivestewardshipofthe resourcesattheirdisposal.
Publicsectorauditors 5.tahtseitilbitauncoacliaecThesp attachtotheconductofpublic business,andtheuseofpublic money,meanthatpublicsector auditsmustbeplannedand undertakenfromawiderperspective thanintheprivatesector.Thismeans providingassurance,notonlyonthe financialstatements(andstatements ofcorporategovernance,internal controlorinternalfinancialcontrol) butprovidingaviewalsoonmatters suchasregularity(orlegality), propriety,performanceandtheuse ofresourcesinaccordancewiththe principlesofBestValueand‘value formoney’. 6.Accroidgnylceilwh,sibaeth principlesforauditingfinancial statementsarecommontothe publicandprivatesectors,external auditorsinthepublicsectoralso reviewandreportonaspectsof arrangementsmadebybodiesto ensuretheproperconductoftheir affairsandtomanageperformance anduseofresources.
