NAO's audit and expert functions
The National Audit Office fulfils its external audit task by conducting financial audit, compliance audit, performance audit, fiscal policy audit and other audit combining different methods. Performance Audit and Financial Audit cooperate in steering system audits.
Audits are conducted applying the International Standards of Supreme Audit Institutions (ISSAI) endorsed by the International Organisation of Supreme Audit Institutions (INTOSAI), which are based on the International Standards on Auditing (ISA). These are supplemented by the office's financial and performance audit manuals.
The point of departure in planning audits is risk analysis concerning public finances and the economy.
Criteria in focusing audits are:
- the economic significance of the matter,
- the risk for the state economy,
- the production of new information and
- ensuring the correctness and functioning of agencies' financial management, the reliability of reported information and compliance with the budget.
The National Audit Office also decides on special focuses in connection with annual planning.