CAG can deal with economic crisis: Rai

CAG reports provide opportunity to the govt to make mid-course corrections

PTI | February 29, 2012



Auditors can play an important role in helping countries deal with economic crisis by suggesting mid-course corrections, Comptroller and Auditor General (CAG) of India Vinod Rai said here on Wednesday.

"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.

Comments

 

Other News

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Development paradox: Falling poverty miracle and an inequality problem

India’s reduction in poverty over the past decade is a development achievement of considerable significance. The World Bank’s April 2026 ‘India Development Update’ estimates that the share of Indians living below the international extreme-poverty line of $3.00 per person per day i

In Arunachal, a river we call mother

In Arunachal Pradesh, the Siang is not just a river. For many of us, especially the Adi people, it is part of our family. Our grandparents fished in it. Children learned to swim in it. Our farms drink from it. When someone says a huge dam will be built on it, we do not hear the word "project".

A new retelling of the Mahabharata delves into key moments

In a time when every decision carries consequences and questions of ambition, power, loyalty, identity and moral choice continue to shape our lives, Dr. Arun Krishnan’s new book, ‘Mahakshana’ (Penguin India) offers a strikingly relevant retelling of the Mahabharata.  

Cabinet approves viability gap funding to develop grid-scale energy storage systems

The Union Cabinet, chaired by PM Narendra Modi, has approved the Viability Gap Funding (VGF) Scheme for Development of Grid-Scale Energy Storage Systems, with a total financial support of Rs.14,500 crore for the period FY 2026-27 to FY 2030-31. The scheme aims to support the development o

Cabinet creates a pathway to absorb Agniveers in Defence Forces

An objective assessment in terms of organisational requirements and operational efficiency has brought out the outstanding performance of Agniveers in terms of skills, motivation levels, physical fitness and technological prowess. As envisaged earlier, based on merit, 25% of Agniveers will be offered reg

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter