Port Vila, Vanuatu: The Pacific Association of Supreme Audit Institutions (PASAI) is training Pacific Island auditors to perform quality financial audits of profit-oriented public entities.

Twenty-one senior staff (13 female, 8 male) from supreme audit institutions (SAIs) in Fiji, Nauru, Papua New Guinea, Tonga, Tuvalu and Vanuatu are participating in the five-day face-to-face workshop from 17 to 21 June 2024.

PASAI programme directors, Meresimani Vosawale-Katuba and Susana Laulu, and consultant, John Vila, are facilitating the programme focused on ensuring financial audits of commercial bodies comply with the requirements of international standards.

Support to improve audit capabilities in the Pacific comes from afar. The Institute of Chartered Accountants in England and Wales (ICAEW) developed a Financial Audit Manual suitable for SAIs to carry out efficient, effective and compliant audits of small to medium sized state-owned enterprises.

In an agreement with PASAI, ICAEW granted the SAIs the licence to use this manual.

PASAI Chief Executive, Esther Lameko-Poutoa, explained, “The manual provides a structured and well-tested method for performing financial audits and will help ensure SAIs conduct audits in line with international standards.”

By the end of the workshop, participants should be more capable of developing and documenting the planning of a financial audit, document and link audit procedures for specific components of financial statements, and review workpaper file to ensure sufficient and appropriate audit evidence is obtained to support audit opinions. They will be able to train their colleagues in how to use the manual to conduct quality and timely financial audits.

Following the workshop, PASAI will provide one-on-one online coaching sessions on request to resolve any issues while implementing their learnings. It can also assist the SAI in a quality assurance review.

PASAI acknowledges the support of the New Zealand Ministry of Foreign Affairs and Trade (MFAT) and the Australian Department of Foreign Affairs and Trade (DFAT).

-----END----

Contact information:

Esther Lameko-Poutoa, Chief Executive PASAI, Auckland, New Zealand
E: secretariat@pasai.org P: +64 9 304 1275

PDF version of this media release