Abstract:
A great deal of research papers suggested that the performance audit
is the type of public sector practice without the clear definition, scope and many
other quality characteristics compared to financial audit. Moreover, the research on
historical development of performance audit shows its complex nature and
development stages in both different countries and sectors. Despite the less
standardized framework of the performance audit, it has extremely high degree of
contribution to the public accountability and policy-making process. In addition, the
literature indicates its increasing importance for the Supreme Audit Institutions (SAI)
across the world. This paper aims to identify milestones of the development of
performance audit, analyze the current methodological support by audit
organizations and discuss the significance of performance audit for SAIs.
