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President of the CoA at the Meeting of the INTOSAI Working Group on Public Debt

  • 27.10.2014
  • 1073

Serafim Urechean, Chairman of the Court of Accounts of the Republic of Moldova (CoA) and Irina Postolachi, superior state controller within the General Division I attended the annual Meeting of the INTOSAI Working Group on Public Debt, which took place on 22-24 October 2009 in Seoul, Korea.

The meeting was attended by experts from 19 member countries of the Working Group: Argentina, Austria, Brazil, Chile, China, Fiji, Finland, India, Indonesia, Korea, Lithuania, Mexico, Moldova, Portugal, Romania, Russian Federation, Ukraine, United States of America and Zambia. At the same time, the event was attended by experts of some international  organizations, such as INTOSAI Development Initiative (IDI), Capacity Development IDI -OLACEFS, World Bank and UNCTAD.

At the meeting there were discussed various aspects of the relevant ISSAI standards, such as the approval of the revised version of  ISSAI 5421 Guidance on Definition and Disclosure of Public Debt and ISSAI 5410  Guidance for Planning and Conducting an Audit of Internal controls of Public Debt, reviewing of  ISSAI 5440 Guidance for Conducting a Public Debt Audit - The Use of Substantive Tests in Financial Audits, the distribution to the members of the Working Group of ISSAI 5430 Fiscal Exposures: Implications for Debt Management and the Role for SAIs  and of  ISSAI  5422  An Exercise of Reference Terms to Carry Out Performance Audit of Public Debt.

The members of the Working Group also approved the implementation of a virtual information platform to disseminate knowledge with the World Bank. The use of the platform will be tested during a year; the results will be presented in the year 2015 at the meeting of the Working Group.

In order to achieve an exchange of experiences, SAIs from China, Fiji, India, Indonesia, Korea, Lithuania, Moldova and the Russian Federation have made presentations about public debt audit carried out.

The CoA's representatives have a presentation on the topic "Audit of public debt in the Republic of Moldova and the impact of the findings and recommendations of the audit on management of public debt".

The Court of Auditors of the Republic of Moldova has joined the INTOSAI Working Group  on Public Debt at December 8, 2010.

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