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Peer Review

Peer Review Corner

What is the auditor’s responsibility to find and report fraud when conducting a performance audit?

“Long before the private-sector accountant fully emerged, U.S. government auditors and comptrollers held posts throughout federal and state government to act as a check on fraudulent and illegal activities by government figures. Preventing and discovering abuse by public officials was the most important function of these early government auditors, as there was no central banking system, no income tax system, and no stock exchanges to oversee.

Peer Review Corner
Independence is one of the defining characteristics of auditing. We agree that independence helps make our work credible. But what does it mean to be independent? At its most basic, independence means that we control our own work and are free from conflicts of interest.

Peer Review Corner
The 2003 revision of Government Auditing Standards (GAS) introduced several changes that affect how we conduct peer reviews. The peer review committee reviewed and evaluated the changes before issuing the updated peer review guide. The most significant changes expanded the scope of peer review – both in the types of work and types of procedures and supporting documents we review.

Peer Review Corner

The peer review committee has revised ALGA’s Peer Review Guide to reflect changes in Government Auditing Standards (2003 Revision) and a few administrative changes to the program. Member Services mailed the updated Guide – now on CD thanks to Glenda – to member organizations this summer. The Guide is also available on ALGA’s website. We invite you to take a look at the updated Guide and, as always, we welcome your questions and comments.

Peer Review Corner

Two recent postings to the ALGA Listserv regarding initialing work papers and documenting supervisory reviews generated a number of responses and a great deal of dialogue on these subjects.

This sharing of ideas and exchange of information is exactly the purpose of the Listserv and, if you are not already a subscriber, I encourage you to give it a try. It takes only a moment to subscribe through the ALGA web site.

Peer Review Corner

Auditors should obtain sufficient, competent, and relevant evidence that computer-processed data are valid and reliable when these data are significant to the auditor’s findings. – Government Auditing Standards, 2003 Revision, (GAS) paragraph 7.59

Obviously, there are many subjective terms in this standard. GAS 7.52 – 7.61 provide guidance to help auditors judge the quality and quantity of evidence needed to satisfy audit objectives. GAS 7.59 – 7.61 also establish documentation requirements when using information from a computer-based system. (Auditors will also find helpful the publication Assessing the Reliability of Computer- Processed Data, issued by the GAO in October 2002.)

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