Organizational model for public sector auditing bearingin mind time factor

Abstract

Time management approach allows to consider public sector auditing process taking into account the time factor. Author highlighted the top transformative changes of Public Sector Auditing and based on these changes builds a time diagram for Public Sector Auditing process. It is well known that auditing process lasts period of time (duration) depended on methodological, technical equipment, qualification of auditors, and many other factors. This paper considers Organizational Model for Public Sector Auditing as a part of time management. In author’s opinion this model for Public Sector Auditing consists of four main categories of management: Planning, Supporting, Directing, and Improving. The organizational model needs to consider the best practice experiences in audit organizing to increase public sector audit effectiveness. Using own practical experience author has implemented time diagram into public sector auditing practice. This time diagram leads to time optimization in audit procedures: To decrease the gap between inspections, to streamline the composition of audit teams, etc. Public sector auditors are arguably the most important assets of any government audit body and, as such, crucial to the provision of highquality audit results and the ultimate success of the public sector audit body. During future auditing procedures public sector auditors must use modern information/digital technologies; strengthen investigative powers; encourage more professional designation; support the international transparency.