The innovation of the external fiscal audit, which

Transcript:The innovation of the external fiscal audit, which:
The innovation of the external fiscal audit, which is carried out by the Greek Ministry of Finance. The Innovation design team: Penny Mitropoulou and Dimoshtenis Antonopoulos. Fiscal Auditors of the Ministry of Finance Anthony Panigiris(CIA) Internal Auditor-Member of the Internal Auditors’ registry of the Ministry of Finance Nektarios Karapanagiotis Financial Director, Greek Festival S.A., Official Ministry of Finance The legal and scientific basis for this innovation is the following : The internal audit system in public sector. The three lines of defense model effective management and control. The Internal Audit The Continuous Auditing procedure The internal audit system in public sector. According to Law 4795/2021, it is the set of actions, procedures, and auditing tools that an organization implements to provide reasonable assurance that its goals will be met. Regarding: effectiveness and efficiency of its operational functions. reliability of financial and other reports. Taking the International Audit Standards into account, it follows the laws, rules, and policies that govern how it works. 2. The three lines of defense model effective management and control. According to the Institute of Internal Auditors' revised "Three Lines Model" (2020), it helps agencies find structures and processes that help them achieve their goals and make good governance and risk management easier. The model applies to all entities and is optimized by: The use of a method based on principles that are unique to the organization's goals and needs Recognizing the role that risk management plays in helping the organization reach its goals helps build and keep goodwill. There is a clear understanding of the model's roles and responsibilities and how they connect to each other. They are taking steps to make sure that the activities and goals of the entity are in line with what is best for the public. The three lines of defense in effective management and control 3. Internal Audit The independent, objective assurance and consulting activities are designed to add value and improve an organization's operations. It helps an entity achieve its goals by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes. It is based on the International Standards of Internal Auditing and the framework defined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). 4. The Continuous Auditing procedure The advantages of continuous audit, compared to the traditional one, have been highlighted in a number of scientific articles.