200 Accoutants General to brainstorm on best practices in audit

At least 200 Accountants General from across the country will participate in a conference here starting Thursday to brainstorm upon the best global practices in auditing and resolution of the challenges faced, an official statement said.

"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," the Finance Ministry said in a statement on Wednesday.

The 28th Accountants General Conference, being organised by the Comptroller and Auditor General (CAG) of India, will be inaugurated by President Pranab Mukherjee, the statement added.

The conference will deliberate upon auditing the programmes related to sustainable development goals, meeting challenges in revenue audit, impact of Integrated Financial Management System (IFMS) on accounts and entitlement functions and perspectives and concerns in the audit of local bodies, it said.

"The recommendations emerging out of these sessions will be presented to the full assembly chaired by the CAG," it said.

Lok Sabha Speaker Sumitra Mahajan, parliament's Public Accounts Committee Chairman K.V. Thomas and CAG of India Shashi Kant Sharma will address the conference. On the second day of the conference, Finance Minister Arun Jaitley will address the officers, it said.

A regular internal and external consultative process facilitates effort to adapt and upgrade professional practices and methods of functioning.

The Accountants General Conference is a prime platform where the entire top level management of the Indian Audit and Accounts Department come together once in two years to review, discuss and recommend the direction to move in.

The 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.

--IANS

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