The System of state audit standards: some notable new points and solutions for effective application

Abstract

On November 15, 2024, the State Auditor General signed and issued the System of state audit standards under Decision No. 08/2024/QD-KTNN. The issuance of this System of state audit standards is of great significance as it serves as a crucial condition for enhancing audit quality, building prestige, and increasing the credibility of the State Audit Office of Vietnam’s activities. It also aims to improve professionalism in organizational operations, expand international cooperation, and promote the international integration of SAV. The revised and supplemented System of state audit standards is necessary and timely to align with the amendments and supplements of the International Standards of Supreme Audit Institutions (ISSAI) developed by the International Organization of Supreme Audit Institutions (INTOSAI); to be consistent with the Law on the State Audit and relevant laws of Vietnam and to be suitable for Vietnam’s institutions, management mechanisms, operating conditions, practices, and the development level of SAV, gradually approaching international standards. Compared to the System of state audit standards issued under Decision No. 02/2016/QD-KTNN dated July 15, 2016 (referred to as the 2016 Standards System), the newly issued System of state audit standards has several new features. This article discusses the general new points of the entire System of state audit standards and some key new points of each individual state audit standard, as well as some application solutions to enhance SAV’s performance.