The Pacific Regional Audit Initiative (PRAI)

In October 2005, the Pacific Island Forum (PIF) leaders, recognizing the substantial benefits accruing from regional cooperation under the Pacific Plan  endorsed for further study on good governance and public accountability, focussing on audit offices or Surpreme Audit Institutions (SAIs). The resulting design/report is the Pacific Regional Audit Initiative (PRAI).

The PRAI design was developed through an extensive consultation process, over a two-year period under the guidance of the 25-member PASAI, with the support from the Asian Development Bank (ADB) and the Australian Agency for International Development (AusAID) under the Pacific Island Forum (PIF) Secretariat's oversight. In April 2008, the PASAI Congress in Rarotonga unanimously confirmed the PRAI design and the August 2008 of the PIF leaders endorsed the initiative.

The PRAI's overarching objective is to raise Pacific public auditing to uniformly-high standards, which in turn is expected to improve transparency and accountability in managing and using public resources.

The PRAI will enable the public accounts of participating countries to be audited, in a timely manner, to uniformly-high standards. It will also enhance the impact of audit findings and assist with performance audits, including environmental audits.

The PRAI will deliver the following outputs during the initial program period (2008–2012):
(i) assist regional cooperation and coordination by (a) establishing the enhanced PASAI secretariat, (b) supporting regional coordination, (c) preparing strategies for common methodologies, (d) preparing programs for cooperative audits and peer reviews, and (e) establishing an enhanced PASAI website.

(ii) build and sustain public auditing capacity by (a) preparing guidance and training materials, (b) developing generic competencies and delivering structured training programs, (c) supporting the attainment of professional qualifications, (d) supporting peer reviews and institutional strengthening designs, (e) supporting improved contract management, (f) providing management and operational support, (g) providing technical support, and (h) facilitating secondments and attachments.

(iii) conduct cooperative financial and performance audits by (a) conducting cooperative financial audits, (b) conducting cooperative performance audits, including environmental audits, and (c) supporting a subregional auditing approach for Kiribati, Nauru and Tuvalu, with the possible later inclusion of other countries who wish to join and

(iv) develop communication and advocate transparency and accountability by (a) educating stakeholders on the value of public auditing, (b) advocating enhanced transparency and accountability, and (c) providing editorial and communications advice.

The April 2008 PASAI Congress reviewed, revised and confirmed the PRAI guiding principles:
(i) SAI autonomy and independence must be preserved; (ii) a regional approach is appropriate for addressing common issues, but PASAI members will continue to have individual needs; (iii) the PRAI should apply to all PASAI members, not just to Pacific Island Forum members; and (iv) PASAI supports the continued involvement of private sector auditors, where appropriate (private sector resources should be used appropriately, but under the auspices of SAI Heads).