President Droupadi Murmu stressed on the importance of timely audits of public finances, stating that identifying and correcting issues early can save substantial public money.
Murmu noted that auditors have a responsibility not only to identify faults but also to suggest improvements for better governance. She pointed out that the role of public sector audits has expanded to assess the effectiveness of public welfare schemes and ensure they serve all citizens equitably.
Addressing the 16th Assembly of the Asian Organization of Supreme Audit Institutions (ASOSAI), she said, “What is equally important for effective auditing of public finances is timeliness. If a wrong is pointed out well within time, it can be corrected. This implies that an auditor is entrusted with the task of not only pointing out faults but also suggest a way out to improve the quality of governance.”
In a technology-driven world, she stressed the need for audit bodies to adapt to technological advancements. “With Asia emerging as the continent that is setting the global economic agenda, all of you carry the onerous task of improving the lives of more than half of humanity,” she said.
The President remarked on the historical significance of auditing, citing that “the profession of audit and accounting is as old as civilisation itself.” She referenced ancient scriptures that highlight the importance of fiscal prudence and financial integrity in governance.
Murmu underscored the critical role of the Comptroller and Auditor General (CAG) of India in ensuring transparency and accountability in public finance.
She said, “It was not without reason that the Indian Constitution vested the office of CAG with a wide mandate and complete autonomy. While explaining the role of CAG in the Constituent Assembly, Dr Babasaheb Ambedkar, the architect of our Constitution, had aptly described the CAG as “the most important officer in the Constitution of India.”
She also commended the CAG’s commitment to ethical conduct, saying that it follows a strict code of ethical and moral conduct that ensures the highest order of probity in its functioning.
