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Prez to inaugurate Accountants General conference tomorrow

Press Trust of India  |  New Delhi 

President will tomorrow inaugurate the 28th Accountants General Conference that is being organised by government regulator CAG.

"The Accountants General from all over the country will participate in the conference and will review the international best practices prevalent in audit and accounting," an official statement said.

There is an increasing awareness and demand for transparency and accountability in public sector service delivery, the statement said.

It added: "The Comptroller and Auditor General (CAG) is seen as the agency which is mandated to keep a watch on economic, efficient and effective governance. The foundation of sound governance with accountability rests on a system of robust public financial reporting."

The two-day conference will have four brain storming sessions on auditing the programmes related to sustainable development goals, meeting challenges in revenue audit, impact of integrated financial management system (IFMS) on accounts & entitlement (A&E) functions and audit of local bodies: perspectives & concerns.

Indian Audit and Accounts Department (IA&AD), headed by CAG, constantly strives to discharge its professional duties, both as an auditor and an accountant, in accordance with the international best practices, the statement said.

The Accountants General Conference is a prime platform where the entire top level management of the IA&AD come together once in two years to review, discuss and recommend the direction in which the IA&AD needs to move in order to deliver its mandated duties in the best possible manner, it said.

It added: "The environment in which audited entities, and consequently audit, functions is very dynamic - both in terms of structure and methods of implementation of public policy as well as the practice of audit and accounting.

"In order to keep pace with this dynamic environment, it is important that the IA&AD keeps reinventing and rejuvenating itself."

Lok Sabha Speaker Sumitra Mahajan, Public Accounts Committee Chairman Prof K V Thomas and CAG Shashi Kant Sharma will address the conference.

On the second day of the conference Finance Minister Arun Jaitley will address the officers.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 16:02 IST