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Comptroller and Auditor General K Sanjay Murthy emphasised the need for reimagining public accountability in the 21st century at the World Forum of Accountants in New Delhi.
He emphasised that public accountability is crucial to good governance and sustainable development, and that it requires a strong internal control environment, transparency, and public participation. The CAG stressed that the accounting and auditing profession needs to adapt to emerging technologies like AI, blockchain, and data analytics to ensure effective public accountability. He also emphasised the importance of capacity building and skill upgradation for professionals to cope with new-age methods. Key initiatives by the CAG include data-driven audits, the Centre for Data Management and Analytics, and the Centre of Excellence in Financial Audit. The CAG has also issued an AI Strategy Framework document to ensure these technologies increase audit precision while preserving fairness, explainability, and institutional accountability. The CAG's efforts aim to promote transparency, public participation, and real-time scrutiny, ultimately fostering greater trust and transparency in the new economy and contributing to the goal of Viksit Bharat. The synergy between human expertise and advanced technologies can create more efficient, effective, and insightful accounting and auditing, the CAG said. He expressed confidence that the forum would deliberate on these aspects and chart a roadmap to take the profession to new heights. Earlier, on January 21, Murthy emphasised that the challenges and best practices highlighted during the workshop would be taken into account to improve the system at the conclusion of a three-day national workshop for Directorates of Local Fund Audit (DLFAs) and State Audit Departments in Hyderabad. The workshop, organised by CIARD-NIRDPR in collaboration with iCAL, focused on challenges in local fund audits, PAI maturity assessments, and best practices in audit planning and reporting. Directors of Local Fund Audits from various states discussed key issues, including the adoption of technology-enabled audit systems and the strengthening of follow-up mechanisms. The workshop was attended by 41 officers from 23 states, along with senior officials from the Ministry of Panchayati Raj and the Office of the CAG. (ANI)
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