This chapter focuses on the prerequisites that ensure that there is an enabling environment in which all audits are performed. Financial audit focuses on determining whether an entity’s financial information is presented in accordance with the applicable financial reporting and regulatory framework. It is important that SAIs understand their mandates. In environments where compliance with authorities is the focus, SAIs should consider applying the compliance audit methodology.

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As carried out by SAIs, performance auditing is an independent, objective and reliable examination of whether government undertakings, systems, operations, programmes, activities or organisations are operating in accordance with the principles of economy, efficiency and effectiveness and whether there is room for improvement.

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Government entities have increasingly adopted Information and Communication Technologies (ICT) to conduct their functions and to deliver various services. The continuous development of ICTs has made it possible to capture, store, process and deliver information electronically. This transition to electronic processing has necessitated significant changes in the environment in which Supreme Audit Institutions (SAIs) carry out their work. There is therefore need for auditors to gain assurance on such computerised systems to derive appropriate audit conclusions.

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Compliance audit is an assessment of whether the provisions in the applicable laws, rules and regulations made thereunder and various orders and instructions issued by the competent authority are being complied with. This audit by its very nature promotes accountability, good governance and transparency. It is imperative that compliance audits are planned, conducted and reported in a structured manner.

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