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Auditing Standards:

  • International Standards for the professional practice of Internal Auditing

General Rules:

The principles governing, in a broad sense, the practice of audit activity are set out in many different pieces of legislation, among which we highlight:

  • Public Finance Act of the Generalitat Valenciana (revised text approved by Legislative Decree of 26 June, 1991): Articles 55-61 partially inspire and govern our actions, with certain exceptions.
  • General Budget Law 47/2003 of 26 November: Title VI (Articles 104-175).
  • The RD regulating rules and principles of public sector auditing.
  • The agreement of 24 August 2012 that determes the additional aspects that the Intervention has to verify in the exercise of the control of the expense are determined.

Specific regulations of the University of Valencia:

A general clause on the control of investments, expenditure and income of the University of Valencia is included in Article 82 of the Organic Law of Universities (LOU), under the title that regulates the economic and financial system of public Universities, which provides:
"The Autonomous Communities will establish rules and procedures for the development and implementation of the budget of the universities, and for the control of their investments, expenditure and income, by means of appropriate auditing techniques under the supervision of Social Councils. The supplementary legislation in this matter will be the one applied to the public sector, in general."
In the specific legislation of the UVEG, the Statutes (in the absence of the mandatory report of the Advisory Legal Council and the approval by the Generalitat Valenciana), within the fifth title, which regulates the Economic and Financial System, provides for internal audit tasks and the unit responsible for their developing. The second paragraph of Article 216 states:
"The University of Valencia will shall provide itself with a system of supervision and control over the economic acts. The internal control of expenditure and investments corresponds to a technical body that will perform its duties independently, by means of auditing techniques, according to what is provided by a regulation approved by the Governing Council. "