Please Sir – Audit Budget Requests

In the allocation of future year budgets, should an audit function need to justify its existence or – given that it is most often mandated – is the delivery of the agreed audit plan sufficient?

This answer has been answered this week in the former by the United States Government Accountability Office.

In their release of the 2016 fiscal year budget request the GAO has set out how its work assists its key stakeholders – the United States Congress and the United States taxpayer – and how that work relates to the need for sustained funding.

Whilst we agree with this comment:

GAO remains one of the best investments in the federal government, and GAO’s dedicated staff continues to deliver high quality results.

One thing that does concern us is that the GAO has linked it’s funding request to the financial benefits that it has identified:

In fiscal year 2014 alone, GAO’s work yielded $54.4 billion in financial benefits – a return of about $100 for every dollar invested in GAO.

That concern aside, this report is an excellent framework for any audit team – whether government or non government sector – to base their future funding approach on.


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