IDI/PASAI 1st Cooperative Financial Audit – Foreign Aided Projects

The regional cooperative audit on foreign aided projects conducted PASAI under its cooperative audit program was the first pilot for a cooperative financial audit. SAIs from six Pacific Island Countries (PICs) conducted individual audits. A regional report is developed to summarise the findings across the six individual audits conducted and identifies the common weaknesses in the audit of foreign aided projects. Furthermore this pilot program resulted in multiple observations and lessons learned which will assist SAIs in the conduct of financial audits of foreign aided projects in the future. It is expected that SAIs and development partners in the Pacific Region may learn valuable lessons from both individual SAI reports as well as from this regional report to improve and enhance the quality of financial audits of foreign aided projects. The six countries involved in the project were Cook Islands, Fiji, Tonga, Tuvalu, Samoa and Kiribati