Soledad Llamas Tutor
Director of Internal Audit, Risk Management and Internal Control
Canal de Isabel II
Soledad Llamas is an MSc Civil Engineer, MBA, CIA, CCSA, CRMA and the first certified COSO in Spain. She is responsible for the implementation of the internal audit and risk management program in Canal de Isabel II, the public company which provides all the water services for the Community of Madrid, Spain.
Since 2013 Soledad has collaborated with ECIIA (European Confederation of Institutes of Internal Auditing) and EUROSAI (European Organization of Supreme Audit Institutions) to establish common auditing guidelines for Internal Audits in Public Entities and SAI'S, and since 2017 she has been the Chair of the working group of both organizations.
She has published articles in journals such as “Revista de Control Externo de España”, Spain's SAI, regarding “Non financial reporting in the Public Sector” and “Revista de Auditoría Interna”, Institute of Internal Audit of Spain, regarding “COSO, Internal Control in the Public Sector”. Soledad is a regular speaker at conferences and courses of the Ministry of Finance, the Supreme Audit Institute of Spain and International Congress of Internal Audit as European Commission.
Friday, 20th - 11:10 a.m. to 12:00 p.m.
Concurrent session 6.5 - Non Financial Reporting in the Public Sector
It is impossible to ignore the importance of entities reporting non-financial information to their stakeholders in order to explain both how they create value and how they will continue to do so in the long term.
Better communication of objectives is of greater relevance in the Public Sector because citizens demand more transparency in management and proper resource utilization.
The European Regulation set out to enhance this type of reporting and, in 2017, it became mandatory for some companies. Although documents are focused on the private sector, steps are being taken at international level to help the public sector adapt frameworks by taking into account its special characteristics.
ECIIA and EUROSAI have a common project that can be a fantastic opportunity to determine the current situation regarding non-financial reporting in the European public sector and to influence its implementation in the future. There is a lot of information / publications about this topic in the Private Sector, but nothing about the situation regardingimplementation in the Public Sector.
If Internal and External Audit work together on this important topic in the Public Sector, our combined efforts can help us to better shape its future implementation.