Auditors should engage with stakeholders to gather input, says CAG Murmu
New Delhi, Mar 1, 2024
He also stressed that auditors need to consider factors such as the size, complexity, and resources of the local government entity when applying auditing standards
CAG of India Girish Chandra Murmu on Friday said auditors should engage with stakeholders to gather input, address concerns, and promote transparency and accountability.
Addressing the three-day International Conference on Strengthening of Grassroots Democracy, he also emphasised on the need to prioritise audit procedures based on identified risks, focusing on areas with the highest potential for fraud, mismanagement, or regulatory non-compliance.
"Together we need to advocate transparency and accountability in local government operations, encouraging the adoption of best practices in financial reporting and governance," Comptroller and Auditor General of India (CAG) said on the concluding day of the conference.
He also stressed that auditors need to consider factors such as the size, complexity, and resources of the local government entity when applying auditing standards.
Audit, Murmu said, should be familiar with the political, social, and economic context in which the local governments operate to tailor audit procedures and recommendations accordingly.
Stakeholder involvement ensures audit findings are relevant, credible, and actionable, he added.
"To effectively navigate the complexities of auditing local governments, we need to build capacity of our auditors as well as the local government employees to enhance their understanding of financial management practices and internal controls," the CAG added.
The participating Supreme Audit Institution (SAIs) shared insightful country reports that brought out significant issues and challenges pertaining to the local government accountability frameworks, the CAG said in a release.
The conference highlighted collaborative efforts in enhancing transparency, accountability, and good governance at the grassroots level. The insights gained and connections formed are expected to drive positive changes in local governance worldwide.
The three-day conference was attended by SAIs of 10 countries -- Georgia, Malaysia, Maldives, Malta, Morocco, Nepal, Oman, Poland, South Africa, and Uganda. India is the host country.
[Press Trust of India]
