Peer Reviews (I and II) of the Government of Indonesias Internal Audit Agency (Badan Pengawasan Keuangan dan Pembangunan)

Cowater was asked to carry out Peer Reviews of Indonesias Internal Audit Agency (BPKP in Bahasa) in 2002 (Phase 1) and 2008 (Phase 2), with a total project value of USD $ 125 000. During each review Cowater assessed the BPKPs ability to conduct financial audits of World Bank-funded projects and review related financial controls. The project then provided an independent experts opinion on the quality of audit work performed and the extent to which BPKPs policies, procedures, organization and staff measure up to the International Standards for Auditing and the standards of the International Organization of Supreme Audit Institutions. The project undertook a detailed analysis of the institutional structure of Internal Audit Agency as well as its training program for audit staff, producing recommendations for improved training programs as well as stronger audit methodologies.