INTOSAI promotes the exchange of ideas, knowledge and experience between its members, the Supreme Audit Institutions (SAIs) of countries around the globe, with other international organizations and stakeholders in the field of government auditing The PFAC was established as a result of the first INTOSAI Strategic Plan approved by the XVIII INCOSAI in Budapest, Hungary in 2004.
According to the strategic plan of 2017-2022 of INTOSAI, the PFAC is responsible for matters under Goal 4, which includes ensuring the economy, efficiency, and effectiveness of INTOSAI's own operations, and that the organization is operating within its budget and realistic projections of available resources.
PFAC's Strategic Objectives
The PFAC leads efforts under Goal 4 of INTOSAI's Strategic Plan and aims to organize and govern INTOSAI in ways that promote economical, efficient and effective working and governance practices and timely decision-making while maintaining due regard for regional autonomy, balance and varying models and approaches of member Supreme Audit Institutions (SAIs):
Monitor the implementation of the INTOSAI Strategic Plan including INTOSAI's performance management efforts and contributions to the follow up and review of the SDGs.
Manage and oversee INTOSAI's resources to carry out the tasks outlined in the Strategic Plan in the best possible manner.
Sustain and further develop the efforts of the INTOSAI Donor Cooperation
Ensure INTOSAI's organizational structure, outreach, communications, and decision-making processes operate in an efficient, effective, and economical manner to the maximum benefit of SAIs.