23
magazine
ALRAQABA
requires SAIs to the audit institutions that face the greatest percentages of
risks and work on evaluating them. This would positively affect the audit
quality and improve the performance of those institutions.
In addition, Kutyła clarified that the risks the Supreme Audit Office of Po-
land are facing are in achieving a paradigm shift from a paper-based sys-
tem to a digital system, which is very crucial because it includes a change
for the auditor’s culture.
Yzeiraj:
Risk Assessment is a Vital Factor in the Audit Process
Director of Legal Department at the State Supreme Audit of Albania, Mr.
Ermal Yzeiraj stated that the application of risk –based audit concept saves
the SAIs time and exerted effort. Whereas, efforts are directly addressing
the most hazardous areas of audit. He indicated that risk assessment is
the single scientific approach by which auditors can perform their work
and achieve the financial review in a timely and suitable manner. It is the
reason that made SAIs in the past few years consider the developments
of risk assessment approach that is still under study for further enhance-
ments.
Yzeiraj pointed out the importance of understanding the risk assessment
process since it is considered an important factor in the audit process. He
explained that there are various risks that may face SAIs since everything
in the world may be dangerous. Every entity is subject to audit by a SAI
may encounter institutional, legal risks, or other risks based on their state
and government nature. The risks are represented in the non- compliance
to the laws, bylaws, strategies, or work plans and other things.
He also explained that despite the SAIs efforts in the preparation of an
integral approach on the said concept, yet they cannot design a complete
risk assessment system, rather when starting the assessment process,
the focus should be on crucial areas.
Yzeiraj explained that SAIs are seeking to extend their risk assessment to
be as appendix of the financial review report, which shall make auditors
more precise in the preparation of such assessment. This also shall stimu-
late the external entities to participate in the development of the assess-
ment as citizens, or public benefit associations.
Motcha:
Technology has a prominent role in finding quick solu-
tions for risks
The Director of the Performance Audit Department of the Albanian State
Supreme Audit Mr. Renaldo Motcha said that life is now more dangerous
than ever, the said applies to all countries around the world regardless of
the geographical variations. However, technology plays a prominent role
in sharing experience and the expertise of other countries with reference
to finding quick and easy solutions to the existing risks.
Motcha confirmed the importance of implementing the concept of risk
audit across all SAIs in order to perform their role of preserving public
funds and providing the best services in exchange for the fees paid by
citizens. He also pointed out that the risks resulted from natural disasters
like earthquakes and floods, and human risks that occur in our daily lives
could be solved and that we can avoid their financial damage by defining
