Notes

3 – SUPREME AUDIT INSTITUTIONS’ INPUT INTO POLICY IMPLEMENTATION – 113

Box 3.3. The SAI of the Netherlands – assessing financial risk exposure of government (continued)

Lessons learned

Information on this particular topic can, according to the minister of finance, not always be public because of possible consequences for the creditworthiness of institutions. This hampered the implementation of an important recommendation.

Further reading

www.courtofaudit.nl/english/Publications/Audits/Introductions/2013/09/Financial_risks_to_t he_Netherlands_of_international_guarantees. www.courtofaudit.nl/english/Publications/Audits/Introductions/2012/06/Risks_to_public_fina nces. www.courtofaudit.nl/english/Publications/Audits/Introductions/2011/05/Spending_Cuts_Mon itor_2011. Source: OECD Survey of Peer Supreme Audit Institutions; further reading link(s) above.

Box 3.4. The SAI of Brazil – assessing the maturity of risk management in the Federal Government

Objective

The aim of this study was to assess the maturity of risk management in various sectors of Brazil’s federal government. This was undertaken through the construction and dissemination of an indicator that would stimulate the improvement of risk management in the public sector and provide relevant information to the TCU for audit planning.

Type

Research and guidance.

Scope and methodology

The work focused on identifying observable organisational conditions that denote the maturity of risk management and the existence of best practices. The TCU developed a standard assessment of risk management based on COSO ERM, ISO 31000 and governmental models of risk management in Canada and the United Kingdom. The TCU issued a survey on risk management to 65 federal public enterprises. This audit work fell under the TCU’s strategic themes of governance, risk management and internal controls, which were approved by the Court in 2012; as well as the TCU goal to "intensify actions that promote the improvement of risk management and internal controls of the Public Administration."

Criteria

International principles/standards (COSO ERM, ISO 31000 and governmental models of risk management in Canada and the United Kingdom).

Resources

 900 working hours for a team of 2 (the construction of the questionnaire involved 5 auditors).  1 external consultant.  USD 6 000 (consultant cost), in addition to the salaries of the staff members.  The main skills/competencies required were knowledge of risk management models (e.g. COSO ERM and ISO 31000), development and implementation of surveys, and writing audit reports.

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