Programming of European funds for Malta 2014-2020 : a perspective from the Maltese audit authority

Abstract

This study aims to make known the raison d'etre of the Maltese Audit Authority, bringing out its significant role in the assurance process of EU Funds. The objectives are displayed as questions to be answered; the major questions are to determine the challenges brought about in the new Programming Period 2014-2020; how to overcome the hurdles and the necessity of having an autonomous Audit Authority. A comparative analysis of the tasks of the Audit Authority between Programming Periods 2007-2013 and 2014-2020 was performed; highlight the changes, the challenges and limitations and the strategy to overcome the hurdles. The study develops through a SWOT analysis on interviews conducted with three high profile public officials and an email correspondence with the Secretary to the Cabinet as Chairman of the Internal Audit and Investigations Board. It transpired that good strategy and harmonised resources are among the strengths of the Audit Authority while it is limited in time and resources. The limitations trigger the risk of losses of funds if deadlines are not met. The possibility of a split in the Department would render autonomy to the Audit Authority, enabling it to be recognised as an external auditor. In tum, this would give opportunities to prospective qualified auditors to received in-house training for the necessary audit warrant. These results enabled the author to answer the objective questions set at the start of the paper. The study concludes by putting forward recommendations for a more reliant and autonomous Audit Authority.