THE IMPACT OF PERFORMANCE AUDIT PLANNING ON THE GENERATION OF ADDED VALUE, MANAGEMENT OF PUBLIC FINANCIAL RESOURCES AND HERITAGE. THEORETICAL ASPECTS AND PRACTICAL APPROACHES

Abstract

The performance audit is an effective instrument in the process of managing public money by analyzing a border range of matters, conducting an objective and independent evaluation of the extent to which public funding is used using the principles of economy, efficiency, effectiveness. The progress of performance audit in the Republic of Moldova is as well a priority because the allocation of public resources takes place to achieve social and economic objectives, but having regard to that resources are limited and allocated as a result of setting priorities and needs, they are managed based on the principles of "3E". In this regard, the auditors, at the performance audit planning stage, exclude the risk that the audit activities will not be proficient or efficacious, and the results of the audit will not add value to the public entity in managing public financial resources and public heritage. The author, in this study, examines the quality assurance of the processes performed during the performance audit planning stage and proposes to the auditors the use of other tools practiced in developed countries in selecting entities/programs or activities for auditing with the implementation of professional judgment.