Auditors can play an important role in helping countries deal with economic crises by suggesting mid-course corrections, Comptroller and Auditor General (CAG) of India Vinod Rai said here today.
"These are momentous times in the histories of many nations. New paradigms are evolving in the political systems of some countries. Global economy is undergoing stressful times and nations are seeking novel solutions to critical problems. All these events pose major challenges to the supreme audit institutions (SAIs) of our countries.".
"Our community of SAIs has not been a bystander while these events have been unfolding. Our reports provide an opportunity to the government to make mid-course corrections and improve service delivery," Rai said while addressing the 12th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI).
ASOSAI is one of the regional groups of the International Organisation of Supreme Audit Institutions (INTOSAI).
Rai further said the role of government auditor has extended to being a powerful trustee of public good from merely being an auditor of financial transactions.
"The role of SAIs has expanded from being merely an auditor of financial transactions of the Government to that of a promoter of an organisation's performance and to act as a powerful trustee of public good," he said.
SAIs is a generic expression used for auditors general all over the globe.
He also pointed how auditing mechanism has evolved over the time.
