The reliability of audit results is supported by a solid methodology and selection of appropriate working methods. Since 2008 auditors have been able to rely on an audit manual prepared by the National Audit Office. 

Obviously, the National Audit Office also adheres to widely accepted international standards in its work. However, as every cultural space has its own characteristics, the supreme audit institutions of many other states have introduced their own audit manuals. The Estonian National Audit Office did so following the developments that took place at the end of the 1990s (when performance audits were introduced in addition to financial audits) which called for a clear agreement on harmonized audit principles.

Audit manual is a living document that can be modified when necessary. Obviously, there are parts that are not amended at all (e.g. Code of Ethics), while others may be amended every year (e.g. upon addition of new audit methods).

The manual comprises four main parts:

• Auditor's Code of Ethics – sets out the main ethical requirements for auditors;
• General Audit Standard of the National Audit Office – the most general principles that have to be complied with in carrying out audits (nature of audit, audit planning, documentation, quality control, etc.). The general standard applies to all audit types (financial, compliance and performance audits);
• Application Guidelines – practical instructions for auditors regarding carrying out procedural operations, etc. The application guidelines have been distinguished according to audit type;
• Instructions for Preparation of the National Audit Office Work Plan and Organisation of Audits – agreements on the formal process of audits (how the work plan is compiled, what deadlines must be kept in mind when carrying out audits, etc.). While the standards and application guidelines speak more about principles, then this part focuses on the formal process of audit organisation.

General standard and application guidelines are being updated.

• Posted: 12/4/2019 10:00 AM
• Last Update: 1/22/2020 6:32 PM
• Last Review: 1/22/2020 6:32 PM