CAG Murthy launches GASAB site to boost government accounting transparency

Comptroller and Auditor General of India (CAG) K Sanjay Murthy on Friday launched the website of GASAB, aimed at improving accessibility and transparency in government accounting standards.

Addressing the 37th board meeting of the Government Accounting Standards Advisory Board (GASAB), he said that initiatives and the work of all the organised accounting services in GASAB reflect the commitment towards improving transparency in government accounting and the standard-setting process.

Murthy stated that the standard-setting work undertaken by GASAB is an exercise entailing multiple stakeholder interaction and feedback from subject matter experts.

The due process of GASAB envisages a well-laid-down process of the selection of topics and the preparation of standards through a robust and inclusive consultative process with members, stakeholders, including specialists and the public, he added.

Pivoted on good governance, fiscal prudence, efficiency, and transparency in public finances, GASAB plays a unique role as an apex advisory body in standardising the accounts of the Government(s) and enhancing transparency in its financial reporting to the various stakeholders.

Jayant Sinha, Deputy CAG (Government Accounts) and Chairman GASAB, said that GASAB was set up in 2002 under the aegis of the CAG with the objective of improving transparency in government accounting and financial reporting.

Pivoted on good governance, fiscal prudence, efficiency, and transparency in public finances, GASAB plays a unique role as an apex advisory body in standardising the accounts of the Government(s) and enhancing transparency in its financial reporting to the various stakeholders, the CAG Office said.