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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:

Law 1/2015, of February 6, of the Generalitat, on Public Finance of the Public Sector, the Instrumental Public Sector, and Subsidies.

  • Law 47/2003, of November 26, General Budget Law.
  • Law 58/2003, of December 17, General Tax Law and related regulations.
  • Law 38/2003, of November 17, General Subsidies Law.
  • Law 2/2011, of March 4, on Sustainable Economy.
  • Law 14/2003, of April 10, on the Assets of the Generalitat Valenciana.
  • Law 9/2017, of November 8, on Public Sector Contracts and its implementing regulations.
  • Order EHA/1037/2010, of April 13, approving the General Public Accounting Plan in its current version.
  • The agreement of the 3rd of October 2023 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 53 of the Organic Law of University System (LOSU), under the chapter that regulates the economic and financial system of public Universities, which provides:

"The Autonomous Communities will establish and develop the rules and procedures for the preparation, development, and execution of the universities budgets under their jurisdiction, as well as for the control of their expenditures and revenues, using appropriate auditing techniques, with the collaboration and supervision of the 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. "