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The Role of Internal Audit in Government Financial Management: An International Perspective

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  • Mr. Jack Diamond

Abstract

The internal audit function has received increasing attention as an important component of government financial management and a tool for improving the performance of the government sector. Recently, a consensus has been reached on what audit standards governments should meet. This paper reviews these standards from an international perspective, noting that a large number of countries would face severe problems of meeting such standards. It is argued that internationally there are many different models for internal audit, and it may be necessary to take into account different audit traditions and different institutional capacities when introducing measures to strengthen internal audit in developing and transitional countries. The paper then discusses the main issues to be addressed in developing the internal audit in such countries, and offers a framework for introducing much needed reforms in this area.

Suggested Citation

  • Mr. Jack Diamond, 2002. "The Role of Internal Audit in Government Financial Management: An International Perspective," IMF Working Papers 2002/094, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/094
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15737
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    Citations

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    Cited by:

    1. Mr. Ping Zhang & Mr. Eivind Tandberg & Mr. Ehtisham Ahmad, 2002. "On National or Supranational Objectives: Improving the Effectiveness of Targeted Expenditure Programs," IMF Working Papers 2002/209, International Monetary Fund.
    2. Daniel Appiah & Abdul-Gafaru Abdulai, 2017. "Competitive clientelism and the politics of core public sector reform in Ghana," Global Development Institute Working Paper Series esid-082-17, GDI, The University of Manchester.
    3. Marta Postula & Olga Irodenko & Przemyslaw Dubel, 2020. "Internal Audit as a Tool to Improve the Efficiency of Public Service," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 699-715.
    4. Mr. Luc E. Leruth & Elisabeth Paul, 2006. "A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries," IMF Working Papers 2006/204, International Monetary Fund.

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