"A premier audit institution that promotes value for money in government operations and contribute towards good governance”
"To audit without fear, favor or prejudice on the prudent and effective use of public resources and report to the Parliament and stakeholders for enhancing transparency and accountability in the government”
The Royal Audit Authority has finalized its Annual Audit Plan 2012-13 and the published copies of the plan were submitted to His Majesty the King, His Excellency the Prime Minister and the Ministers of the ten Ministries yesterday. Subsequently, the Plan will also be shared with Heads of the Autonomous Agencies, Corporate & Financial Institutions, Non-Governmental Organizations and the Dasho Dzongdags of 20 Dzongkhags. Based on the RAA’s priority, to share copies with all our stakeholders and agencies, a copy of the Plan is also uploaded on our webpage. For copy click (Annual Audit Plan)
The Plan is prepared aligning to the RAA’s Strategic Plan 2010-15. It entails a brief review report on the progress of the Strategic Plan for the year II, identified audit thrust areas and the detailed Annual Audit Schedules for the year 2012-13. It is expected to enable its stakeholders and agencies to know more about happenings for the past one year within the RAA and our priorities for the next one year.
The RAA has embarked on a transitory shift to risk-based approach in financial audit in the very recent past. It is aimed to focus on some of the important areas in audit and to prepare to attend to needs of the stakeholders and create greater impacts. It is also to strategically design RAA’s limited skilled and professional auditors and to concentrate more on critical areas.
To align with the constitutional mandates of auditing and reporting on the economy, efficiency and the effectiveness in the use of public resources, the RAA aims to move on to integrated performance based audits. Though RAA does not look for a fully integrated performance audit during the year, it shall look forward to making a modest attempt to undertake integrated performance audit. However, next year, it shall strive to undertake a full scale integrated performance audits in all audits assignments. It is to enhance the impact of audit by focusing more on 3Es, embrace best international practices and to go beyond accounting records to assess the sectoral outcomes defined for various sectors.
As a mode of sharing information, a brief review report on the progress of the RAA’s Strategic Plan 2010-15 for the Year II is included in this Plan. Like last year, the Audit Thrust Areas for the III Year of our Strategic Plan corresponding to the financial year 2012-13 have been identified and incorporated. These areas are determined mainly through audit priorities accorded to various issues by the RAA based on past experiences and discussions held within. The ten functional divisions under the RAA have committed to conduct 659 audits, comprising of 534 financial audits, 96 certification audits, 21 statutory audits and eight theme-based and performance audits in the Annual Audit Schedule 2012-13. Detailed schedule showing the Division-wise schedule, Agency-wise schedule and Team-wise is included at the end of the Plan document.
It is expected to facilitate its auditors and agencies concerned for proper co-ordination and successful accomplishment of audits that are planned within the time frame. It is also expected to facilitate audit agencies to take precautionary measures and play proactive roles to curb undesirable practices in areas, not limiting to, which are defined as RAA’s thrust areas in order to achieve economy, efficiency and effectiveness in their operations. The RAA as an oversight body responsible for ensuring transparency and accountability in public operations reassures to bolster its confidence in building a society that upholds the values of transparency and accountability through collective efforts. The Annual Audit Plan 2012-13 is shared both in hard copies as well as soft copies made available on the RAA’s webpage, for ensuring preparedness of the agencies to accomplish audit as per plan and to ensure timely presence of the officials involved in maintaining accounts and relevant records during the course of the audit.
While plan is prepared as per the commitments made in the RAA’s Strategic Plan 2010-15, the RAA do recognize the change that could happen to the scheduled audits as a result of parliamentary elections slated for 2013. For such inevitable changes, the RAA assure to extend full support and to adjust change accordingly.
The Annual Audit Plan 2012-13 is shared with our stakeholders and agencies as approved by our Executive Committee, the highest decision making body of the RAA.