Republic of the iltbitippine5

COMMISSION ON AUDIT
Commotthicattb &elute, ilue3on City, iltbitippine5

No.: .2.(24S02_,

RESOLUTION

Date:
Subject:

MAY 0 3 2016

Update on the COA's Oramework of Professional Standards

WHEREAS, Section 2 (2), Article 1X-D of the 1987 Philippine Constitution vests in the
Commission on Audit (COA) the exclusive authority to define the scope of its audit and
examination and establish the techniques and methods required therefor;
WHEREAS, Chapter 2 Section 25 (4) of Presidential Decree (P.D.) No. 1445 mandates
the COA to promulgate auditing rules and regulations;
WHEREAS, COA is a member of the International Organization of Supreme Audit
Institutions (INTOSAI);
WHEREAS, the Commission Proper, under COA Resolution No. 2013-006 dated
January 29, 2013 adopted the COA's Framework of Professional Standards;
WHEREAS, the COA's Framework of Professional Standards is developed based on a
study of applicable laws and using the International Standards of Supreme Audit Institutions
(ISSAI) INTOSAI Framework of Professional Standards as reference;
WHEREAS, COA deems it proper to harmonize the COA's Framework of Professional
Standards with the INTOSAI's Framework of Professional Standards;
WHEREAS, COA recognizes the need to update the COA's Framework of Professional
Standards to include the following:
ISSAI 10 - The Mexico Declaration on SA1 Independence
- Guidelines and Good Practices Related to SA1 Independence
ISSAI 11
- The Value and Benefits of Supreme Audit - making a difference to the
ISSAI 1,2
lives of citizens
- Principles of Transparency and Accountability - Principles and Good
ISSA1 21
Practices
WHEREAS, the INTOSAI made revisions to the previously issued ISSAIs 100 to 400 to
include the concepts and principles of the three types of audit financial, compliance and
performance; hence, the need to adopt the following fundamental principles for public sector
auditing:
ISSAI 100 - Fundamental Principles of Public Sector Auditing
ISSAI 200 - Fundamental Principles of Financial Auditing
ISSAI 300 - Fundamental Principles of Performance Auditing
ISSAI 400 - Fundamental Principle of Compliance Auditing
WHEREFORE, this Commissi
Revised COA's Framework of Profes
an integral part hereof.

OLVES, as it does hereby resolve, to adopt the

annexed to this Resolution and made

al Standards

This Resolution shall take effect on

Done this arj day of

MAI 0 3 2016
2016 at Quezon City, Philippines.

cornotssiom 014 ALiDtT

OFF1C1E OF 11411 COMMISS1014 SICRETWCAT

3111111111111 m c

'9,or

Lf*.

L G., AGUINALDO
Chairperson

ABEL D. AGITO
ommissioner

COA Framework of Professional Standards i

Mandate/Founding Principles
O The Constitution of the Republic of the Philippines
Presidential Decree No. 1445 The Government Auditing Code of the Philippines
The Lima Declaration JSSAI 1

Pre-re a uisites for the Pro er Functionin and Professional Conduct of

Su reme
SAls
Philippine Public Sector Standards on Auditing (PPSSAs) which contain the following:

* PPSSA 10 The Mexico Declaration on SAI Independence

PPSSA 11 Guidelines and Good Practices Related to SA1 Independence
PPSSA 12 The Value and Benefits of Supreme Audit - making a difference to the lives of citizens
PPSSA 20 Principles of Transparency and Accountability
PPSSA 21 Principles of Transparency and Accountability - Principles and Good Practices
PPSSA 30 Code of Ethics
PPSSA 40 Quality Control for SAIs

Fundamental Princi sles for Carr in out Audits of Public Entities

PPSSA 100 Fundamental Principles of Public Sector Auditing
PPSSA 200 Fundamental Principles of Financial Auditing
PPSSA 300 Fundamental Principles of Performance Auditing
a PPSSA 400 Fundamental Principles of Compliance Auditing
}...n.w.,M.P.

1.
0 erational GuideIinesonAjjinReview En a ements Msurance Engg_
a ei
Related Services and Su alimentary Materials for Other Sub'ects

PPSSA 1000 to 2999 General Auditing Guidelines on Financial Auditing

PPSSA 3000 to 3999 General Auditing Guidelines on Performance Audit
PPSSA 4000 to 4999 General Auditing Guidelines on Compliance Audit
PPSSA 5000 to 5999 Specific Auditing Guidelines on Specific Subjects (international institutions,
environmental audit, audit of privatization, information technology audit,
public debt, disaster-related aid, peer-review)

Philippine Public Sector Standards on: Review Engagements; Assurance Engagements; Related Services; and
Auditing Practice Notes (PPSSREs, PPSSAEs, PPSSRSs, PPSAPNs) which contain the following:

PPSSRE 2000 to 2699 - Philippine Public Sector Standards on Review Engagements

PPSSAE 3000 to 3699 - Philippine Public Sector Standards on Assurance Engagements
PPSSRS 4000 to 4699 - Philippine Public Sector Standards on Related Services
PPSAPN 1000 --- Philippine Public Settq A diting Practice Notes

Approved under COA Resolution WO.

201G -007

dated

May 3, 201G