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Ms. Ines Metsalu
Financial Audit Expert, SAI Estonia

As a member of the FAS can you tell us how FAS is involved with the ISSAI implementation activities?

The work of the Subcommittee for 2011-2013 is described in the Work Plan and includes maintaining and continuing to develop the ISSAIs on Financial Audit; creating awareness for the standards and guidelines; contributing with expert knowledge on the guidelines, and contributing to the consistency in the ISSAI framework. The subcommittee will also continue to explore the advantages and possibilities of including other standards issued by the IAASB as part of the INTOSAI Financial Audit Guidelines.


FAS will contribute to joint PSC initiatives in raising awareness of the ISSAIs on Financial Audit whenever possible. For example FAS attends on seminars concerning ISSAI implementation and has prepared a presentation that can be used to raise awareness of the ISSAIs on Financial Audit among top- and middle management of SAIs.

In case of financial audit, what are the major issues or challenges that you think important for the SAIs to become ISSAI compliant?

First of all SAI should assess its audit mandate to understand whether regulation or mandate prescribe the use of a specific standard or whether the current regulation enables adoption of new auditing standards. In case of limitations in current legislation SAI need to consider if it is feasible to change the legislation in order to enable to implement ISSAIs.

To become ISSAI compliant needs first the decision of implementation options of ISSAIs. Namely Financial Audit Guidelines can be implemented as authorative standards or as guidance. It is important to note that, if SAI decides to use ISSAIs on Financial Audit as authorative standards it is required to comply with all ISSAIs relevant to the audit.

Another challenge for SAI-s is the assessment of resources needed to implement the ISSAI-s. This assessment needs to include both funding and human resources. Implementation of ISSAI-s may require changes in organization and not only in audit methodology. Changes in auditing practices should also be discussed with external stakeholders.

How do you find the activities on the IDI’s ISSAI Implementation Initiative programme?

The work done by IDI to support the SAIs to become more professional and transparent is valuable. I have been impressed by the effort and dedication of IDI staff and all participants in product development meeting in Oslo.

What would be the strategic issues to consider in the long term for implementation of ISSAIs?

Implementation of ISSAIs is a long term and continuous project which requires dedication, resources and constant work. An important consideration for top management in SAIs is how to involve and motivate the staff to take the responsibility for implementation of ISSAIs.

You are here: Home ISSAI Talks Views of Financial Audit Expert from SAI Estonia