Supreme Audit Institutions

When the  Office of the Auditor General (OAG) does its work, it is required to comply with a set of standards that have been set by the  International Association of Supreme Audit Institutions (INTOSAI).

INTOSAI is the umbrella organisation that represents all Supreme Audit Institutions around the world including Solomon Islands’ Office of the Auditor General (OAG). These institutions, which include government audit offices and similar organisations, form the world’s governmental external audit community. Member institutions are represented at the regional level by working groups such as the  Pacific Association of Supreme Audit Institutions (PASAI), which the Solomon Islands’ Office of the Auditor General (OAG) is a member of.

Professional Auditing Standards

INTOSAI issues two sets of Professional Standards for all member Supreme Audit Institutions (SAIs). These Standards are The  International Standards of Supreme Audit Institutions (ISSAI) and the  INTOSAI Guidance for Good Governance (INTOSAI GOV).

These Standards give recognised principles and share the professional experience of the international community of Supreme Audit Institutions (SAIs) as a means of guaranteeing the development of government audit practices. Additionally, these ISSAIs aim to safeguard independent and effective auditing.

 In Solomon Islands these Standards guide how the Auditor General and his Office carry out their audits from planning through to testing and reporting.

Learn more about

 The OAG’s Audits

 The OAG’s Audit Process

Accounting Standards

Accounting standards are a set of rules to abide by when preparing financial statements of an entity’s accounts, ensuring standardisation across the market.

In the Solomon Islands, public sector entities that are audited by the Auditor General through his Office are required to prepare their financial statements in accordance with these international accounting standards.

The National and Provincial Governments prepare their statements in accordance with a set of Standards known as the  International Public Sector Accounting Standards (IPSAS) , issued by the IPSAS Board.

These Standards are based on  International Financial Reporting Standards (IFRS) issued by the  International Accounting Standards Board (IASB) and aim to improve the quality of reporting by public sector entities, leading to better resource allocation as well as increased transparency and accountability.

Assurance

While carrying out its  audits , the OAG also does assurance checks on whether financial operations and internal controls comply with the respective laws, approved regulations and signed contractual agreements.

Learn more about

The OAG’s relevant  Legislation

Our  forum discussions on audit reports.

 Contact Us

PrintEmail

In addition to audits carried out by the Auditor General, he is also Secretary to the Parliamentary Public Accounts Committee (PAC) which was established by the  National Parliament  to conduct hearings into Government Budgets before they are presented to the Parliament for debate and passage, as well as review the Auditor General’s audit reports that have been submitted to Parliament for consideration.

This is an unusual arrangement compared to other countries, but it does provide a valuable link between the Auditor General and the Public Accounts Committee.

The Office continues to work with the Committee and has been providing assistance to the Committee’s staff to better support the Parliamentary members of the Committee when they are conducting hearings.

The hearings of the Committee are very important not only for the Members of the Parliament to be better informed when debating the Committee’s reports, but also because they are broadcast nationally and are recorded in the written records of the Parliament known as Hansard.

Find out more about

 The Public Accounts Committee 

 The OAG’s Audit Report

 The AG’s Annual Reports to Parliament 

 Contact Us 

PrintEmail