Enhancing Accountability and Governance: Strengthening Supreme Audit Institutions in Asia-Pacific

proposed

Supreme Audit Institutions (SAIs) are a core part of the accountability mechanism in all countries and play a pivotal fiduciary role when performing project audits in many ADB developing member countries (DMCs). Many DMC SAIs face significant capacity limitations. The proposed technical assistance (TA) will improve the capacity of SAIs of participating DMCs across Asia and the Pacific to conduct data-driven, high-quality audits. The focus of the TA aligns with ADB strategy 2030 and country programming strategy objectives to improve governance and financial reporting. Focus areas have been developed through close coordination between SAIs and ADB, along with inputs from key bodies including the International Organization of Supreme Audit Institutions. The TA will focus on two key areas: (i) enhancing SAIs' ability to integrate data analytics into audit processes and (ii) improving SAI's System of Audit Quality Management (SoAQMs) and aligning them with the revised International Standards of Supreme Audit Institution (ISSAI) 140 and international best practices. Tailored support through needs assessments will be used to build each SAI's capacity in close coordination with the country teams to ensure complementarity to ongoing and planned activities. The TA activities will include roadmap development and implementation, customized training, and assistance in using improved audit tools. Through these interventions, the TA will enhance public financial accountability, improve audit effectiveness, strengthen audit governance in the region, and improve financial reporting.