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CAG Vital in Propelling India to Third-Largest Economy, Says Murmu

President Droupadi Murmu said on Thursday that the Comptroller and Auditor General team, as a facilitator of good governance, would play an important role in India becoming the world’s third largest economy.

Ms. Murmu said during the 3rd Audit Diwas celebrations that the government’s audit community had made significant contributions to strengthening integrity, governance, and system building under the leadership of the Comptroller and Auditor General (CAG) of India, Girish Chandra Murmu.

The President stated that the auditing body had taken several forward-thinking steps, including the establishment of the Centre for Data Management and Analytics, which uses digital technology and other modern methods to meet future requirements. She stated that auditors should be viewed as facilitators of good governance rather than critics.

Her emphasis on the issues of Blue Economy and Responsible Artificial Intelligence during India’s presidency of Supreme Audit Institutions 20 (SAI 20) was a good effort to prepare a roadmap for the future, she said, adding that India’s leading position in the world community was also visible in the field of audit.

The CAG stated on the occasion that the institution had made significant progress on multiple fronts. “The audit report catalyzes good governance and assists Parliament and State legislatures in ensuring accountability, transparency, and efficient executive functioning,” he said, adding that during 2022-23, 183 audit reports were presented in Parliament and State legislatures.

He stated that the integration of SAI accounting offices with state government financial systems had greatly improved access to financial data. “We will continue to strengthen the linkages between Accounts and Audit by developing data analytics capacities for financial analysis,” he said, adding that the move will result in more informed audits and better public financial management outcomes.

“We are establishing an International Centre for Local Government Audit and Capacity Building,” he said. This one-of-a-kind institute will be dedicated solely to meeting a global need for capacity building in local governance audits.”

A memorandum of understanding has been signed between the CAG and the Institute of Chartered Accountants of India to conduct a certification course in order to address the problem of a shortage of qualified accountants in municipalities and panchayats.

“Our commitment to sustainability is evidenced by the successful preparation of Asset Accounts on Mineral and Energy Resources of States/UTs under the guidance of the Government Accounting Standards Advisory Board (GASAB) and the offices of SAI India,” he said of sustainable development. The following priority area is water resources. GASAB has already created preliminary Water Account tables and distributed them to all states, UTs, and other stakeholders.”

The CAG has organized a three-day event from November 15 to 17 as part of the 3rd Audit Day celebrations. The 31st Accountants General Conference began on Thursday.

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Source: The Hindu

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