Auditors in Wales will now be expected to apply the ‘sustainable development principle’, as set out in the Welsh Well-being of Future Generations Act.
The principle requires public bodies to apply certain standards to what they do, such as the need to consider long-term plans, stopping problems reoccuring and integrating the objectives of other bodies and individuals.
The new Code of Audit Practice mean audit work must adhere to four main principles by being: independent, accountable, proportionate and publicly focused, the auditor general said.
Welsh Auditor general Huw Vaughan Thomas explained: “I attach the utmost importance to the quality of work conducted on my behalf.
“This revised code is designed to achieve the highest standards of audit quality.”
He added: “It should be the foundation and blueprint for my auditors to follow.
“It should also provide assurance to the people of Wales that they can trust and rely on our work to help protect the public purse.”
To help draw up the revised Code of Audit Practice, the Auditor General consulted with a range of stakeholders, including Welsh public bodies and staff from the Wales Audit Office.
