Public Financial Management: Audit and Compliance

Public Financial Management: Audit and Compliance

Date/Time: Date(s) - 16/11/2022 - 18/11/2022( 8:00 am - 5:00 pm )
Location: Malaysia, Kuala Lumpur


The audit is an evolving function in the public sector. It has evolved from simply checking that money has been spent in the ways that governments intended and ensuring that none was stolen or misappropriated. Now it is also concerned with evaluating whether the application of funds represents good value for the taxpayer and, more recently, to evaluating whether government policies have been effective. The early functions of audit (i.e the detection of fraud and technical errors in accounting) still remain but have now been overlaid with new, more evaluative, functions.

The institutions carrying out audit have also evolved. All governments have some form of national auditing body or Supreme Audit Institution. These institutions are often very old, but some are more recent. As with the evolution of the audit function, these national audit bodies have also expanded their role over time, and many, as you will see in this module, now include policy evaluation in their remit. At the same time, there is an internal audit, offering an independent assessment of an organization’s risk management, control, and governance processes.


  • Describe the role of the external auditor within the public sector
  • Explain the requirements for internal audit within public sector organisations, and how it is different from external audit
  • Distinguish between the public sector and private sector models
  • Outline the corporate governance requirements and their applicability to the public sector
  • Discuss how the different aspects of governance impact on audit activity
  • Carry out an assessment of risk and be able to measure and manage it, and provide assurance to management
  • Explain the role of forensic accounting within the organisation
  • Discuss the role, purpose and importance of value-for-money audits
  • Explain the contribution of audit to policy evaluation
  • Analyse the key stages of the contract audit process taking a systems-based approach
  • Assess the issues arising from outsourcing and their contractual importance
  • Discuss the potential for citizen involvement in audit

Training Methodology

  • Case Studies.
  • Individual and group discussions and exercises.
  • Intensive training by using templates, diagrams, and charts.
  • Planning activities and presentations.
  • Self-assessments.
  • Action plan.

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