(sav.gov.vn) – Withing the framework of the working visit to Malta from April 21-25, the State Audit Office of Viet Nam (SAV) Delegation led by Deputy Auditor-General Nguyen Tuan Anh has paid a working visit to the agencies responsible for internal audit and inspection under the Government of Malta.
During the meeting with the Internal Audit and Investigations Department (IAID) of Malta, Deputy Auditor-General Nguyen Tuan Anh expressed his pleasure to have the opportunity to visit Malta, hoping that this visit would open new prospects for cooperation between SAV and the agencies tasked with safeguarding the financial integrity of the Maltese Government, including IAID.
The Director of IAID shared that IAID is a ministerial-level body under the Government that independently inspects and audits the financial operations of Maltese government agencies and organizations. This contributes to providing necessary safeguards to ensure the protection of the Government’s financial interests, including funds received or managed under Malta's international obligations.
Each government agency has its own internal audit department which is independent from both administration and expertise of IAID. IAID has a committee in charge of coordinating with these internal audit departments. IAID conducts internal audits and investigations to support the financial management and supervision of the Maltese Government. Internal audit reports and inspection reports are not public, though there have been calls for their disclosure like those of the National Audit Office of Malta. IAID develops its annual internal audit plans which then bases for the next year implementation. Particularly, investigations are only conducted upon government request or based on complaints from individuals and organizations and at IAID’s discretion. If criminal signs are detected, IAID will refer the case to the police agencies. Due to the regular nature of internal audits, IAID has detailed an audit manual to guide auditors. For investigations, IAID has a general manual and provides more detailed instructions depending on the nature of each investigation.
At the end of the meeting, both sides agreed to appoint technical contacts to continue exchanging and sharing audit professional and investigation materials to learn from each other and better perform their tasks.
During the visit, the SAV delegation also had a technical working session with the Accounting and Auditing Board of Malta - the regulatory body for the accounting and auditing profession under the Ministry of Finance of Malta. Over the years, the Accounting and Auditing Board has been implementing initiatives within its mandates, including establishing the Code of Ethics for accountants and auditors, setting continuous professional training requirements, developing a Quality Assurance System, and conducting disciplinary procedures for professionals in the field. With positive and open exchanges, the Chairman of the Accounting and Auditing Board of Malta agreed to share experiences in establishing ethical rules for auditors in quality control, serving as reference materials for SAV in revising and supplementing the SAV Standards towards compliance with the Framework of Professional Pronouncements of the International Organization of Supreme Audit Institutions (INTOSAI)./.