INSIGHT

Internal Auditing by Southeast Asian Governments: Differences and Similarities

Significant variation exists in the way Southeast Asian governments conduct internal audits. Photo credit: ADB.
Significant variation exists in the way Southeast Asian governments conduct internal audits. Photo credit: ADB.

The services and role of the internal audit function is consistently defined across the member states of the Association of Southeast Asian Nations but significant variation exists in regard to professional practices and the management of people and performance.

Introduction

The academic study, Internal Audit Maturity in the Public Sector in ASEAN- Insights from the study of Internal Audit function in Selected Central Banks, examined the maturity of the internal audit function in the public sector in the member states of the Association of Southeast Asian Nations (ASEAN) by benchmarking the function with the Institute of Internal Auditors’ Capability Model for the public sector. Benchmarking the function enables us to understand the current capabilities of the internal audit function and the steps needed to enhance its capabilities. Considering the diversity in political, socio economic and governance structures in ASEAN, it becomes imperative that examining an organization that is critical to its nations’ interests, provides insight into the internal audit function in the public sector, and at the same time helps draw meaningful comparisons across ASEAN Member States. Central bank for the purpose of this study is the most appropriate institution.


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Meet the expert

  • Puneet Sondh   
    Governance, Risk and Audit Professional - Global Banks , GRCP, Operational Risk Manager (PRMIA)

    Puneet Sondh has worked with global banks in governance, risk management, assurance and compliance in Asia and Africa. He was an intern with the Asian Development Bank from July 2016 to January 2017, and is undertaking a master’s degree in finance at the University of Amsterdam.

   Governance and public sector management
   Last updated: February 2017

 




Disclaimer

The views expressed in these articles are those of the authors and do not necessarily reflect the views of the Asian Development Bank, its management, its Board of Directors, or its members.




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